7 January 2016

Algeria - Economic Growth Expected to Rise in 2016, 2017

Washington — Algeria is expected to record a rise in the economic growth of 3.9% in 2016 and 4 % in 2017, said the World Bank in its report on global economic prospects published Wednesday evening in Washington.

According to the forecasts of this international financial body, the growth of Algeria's real gross domestic product (real GDP) will pick up again in 2016 to reach a 3.9% progress against 2.8% in 2015, despite the oil price decline.

In 2017, Algeria's economic growth is expected to further improve to reach 4%, said the WB.

For 2016 and 2017, the World Bank maintained its growth forecasts for Algeria, anticipated in June 2015, and slightly reviewed the growth upwards in 2015 by +0.2%.

Meanwhile, the unemployment rate in Algeria will remain stable, at the same level of that recorded in 2010, according to the Bretton-Woods body.

Overall, the economic growth in the Africa and the Middle East region (MENA) is expected to rise in 2016 to 5.1% boosted by the lifting of economic sanctions against Iran, leading provider of the world energy market.

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