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Algeria’s gross domestic product (GDP) grew by 2.3% in the first quarter of this year, helped by a better performance of the energy sector, official data showed on Saturday, after a contraction of 3.9% a year earlier, Reuters reports.
The OPEC member Algeria’s economy is heavily dependent on oil and gas, which account for 9% of its total export earnings and 60% of the state budget.
The country’s oil and gas sector grew 7.5% in the January-March period, after a 13.3% contraction a year earlier, according to figures published by the National Statistics Office.
The non-energy sector grew 1.4% after a 1.2% contraction the previous year, according to the figures.
