Algeria projects big hike in foreign reserves by 2023: PM

ALGIERS, Oct. 10 (Xinhua) -- Algeria's foreign reserves are set to witness a significant increase by the end of 2023, reaching 73 billion U.S. dollars, Algerian Prime Minister Aymen Benabderrahmane said on Tuesday.

The foreign reserves of the North African country at the end of 2022 stood at 61 billion dollars.

In a report submitted to the People's National Assembly, the prime minister credited the rise to an expected 25 percent surge in national revenues during 2023. Furthermore, he noted that when taking into account gold reserves, the foreign reserves would reach 85 billion dollars.

Benabderrahmane also projected a 5.3 percent growth for the national economy in 2023 despite the challenging global economic climate.