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November 19, 2024 | 1 month ago

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‘Algeria has the greatest potential for growth in the Mena region’

'According to the latest World Bank Report, Algeria has the greatest potential for growth in the Mena region.

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The World Bank (WB) gives a positive assessment of the Algerian economy, forecasting accelerated growth up to 2025 and highlighting the significant potential for growth in non-hydrocarbon exports.

After a long period of stagnation, non-hydrocarbon exports have increased significantly, reaching 1.8% of GDP in 2023 compared to 0.7% in 2017, with significant growth potential if the economy is well managed.


The WB notes that Algeria has the highest potential for non-oil export growth in the MENA region, thanks to its proximity to the European Union and the existing free trade agreement.

The WB emphasizes Algeria's natural advantages, in particular its proximity to the EU, but notes that exports remain limited in terms of product diversity.


The WB stresses the importance of productivity gains in sectors with high export potential for competitiveness and growth. Algeria is making significant investments to diversify its economy.

Algeria's economy is expected to grow by 4.1% in 2023 and the government has successfully reduced inflation from 9.3% in 2022 to 4.3% in 2024 through measures to stabilize agricultural prices.

The government stabilized agricultural prices and controlled inflation through resilient agricultural production and monetary reforms, contributing to greater economic stability.

Algeria's economy has overcome numerous crises, including the oil price crash and the COVID-19 pandemic. According to the World Bank, economic indicators are now positive, and the government is implementing policies to reduce dependence on hydrocarbons and diversify exports.

November 19, 2024 | algeria-logo

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