Algeria: World Bank expects rapid recovery of growth in 2018

APS : Tuesday, 17 April 2018
WASHINGTON- The World Bank expects a rapid recovery of growth in Algeria in 2018 as a result notably of the new budget measures relating to financing and investment, said on Monday this institution.
“Growth is expected to recover rapidly in 2018 following the fiscal expansion process” and reaches 3.5% against 2.1% in 2017, said the World Bank in its follow-up report of the economic situation in the MENA (Middle East and North Africa) region, published on the eve of spring meetings of Bretton Woods institutions.
In its latest report on the world economic prospects, published in January, the World Bank banked on a growth of 2.2% in 2017 and of 3.6% in 2018.
It underlined that the slowdown recorded in 2017 compared with the rate of 3.3% in 2016 was mainly due to the weak results of hydrocarbon production which, according to what it was estimated, decreased by 1.4% last year which strongly contrasts with the momentum observed in the first quarter of the year.
“The production of new oil wells will continue to be important and stimulate growth,” according to the report.

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