Algiers – Algeria’s efforts to control inflation and the sustained positive performance of its economy, particularly in sectors beyond hydrocarbons, are presenting “encouraging indicators” for stronger growth, according to a World Bank economist speaking in Algiers today.
The expert emphasized that these developments could pave the way for a more robust, sustainable, and diversified economic future for Algeria.
The World Bank’s assessment highlights the significance of Algeria’s diversification strategy, moving away from its traditional reliance on oil and gas revenues. The growth in non-hydrocarbon sectors, such as agriculture, manufacturing, and services, is seen as a crucial factor in achieving long-term economic stability and resilience.
“Controlling inflation is paramount for sustainable economic growth,” the economist stated. “Coupled with the positive momentum in non-hydrocarbon sectors, Algeria is demonstrating a commitment to creating a more balanced and dynamic economy.”
The World Bank’s analysis also acknowledges the Algerian government’s efforts to implement structural reforms aimed at improving the business environment and attracting foreign investment. These reforms are considered essential for unlocking the full potential of the Algerian economy and fostering greater private sector participation.
While acknowledging the positive trends, the World Bank also cautioned that continued vigilance is necessary to address remaining challenges, including unemployment and regional disparities. Sustained efforts to promote inclusive growth and create opportunities for all Algerians will be critical for ensuring long-term prosperity.
The World Bank’s optimistic outlook underscores the potential for Algeria to achieve significant economic progress in the coming years, provided that the country continues to pursue sound economic policies and implement necessary reforms.
