Algeria's oil-dominated economy is expected to achieve 3.8% growth this year, up from 3.2% in 1999, but lower than the 5% expansion achieved in 1998, central bank governor Abdelwahab Keramane told parliament last week. Keramane said despite insufficient direct foreign investment and unfavourable weather conditions for agriculture, the surge in oil prices has made it possible for the economy to grow this year. The country's balance of payments is currently $4.5 billion in favour of Algeria