Kingsley Kobo, AfricaNews reporter in Abidjan, Ivory Coast
The World Bank projects Algeria's economic growth to stand at 4.1% between 2011 and 2012, compared with 2.4% in 2010, according to a WB report published by Global Arab Network. Current account balance will remain positive to stand at +6.2% of GDP in 2011 and +3.4% in 2012, against +4.6% in 2010, the report said.
The WB forecasts the North African country's current account balance to reach a ratio of +5.6% for 2011 as opposed to +2.7% for 2010.
The report shows that Algeria is one of the few countries in the Middle East and North Africa to maintain a ratio of positive current account balance in relation to GDP.
Algeria made significant improvements in its main macroeconomic indicators for 2011, supported by $157 billion of foreign reserves, which resulted in the intensification of public investment, according to experts.
The WB report is a confirmation of the consolidation of Algeria's key macroeconomic and financial indicators, proposed by the Finance Act 2011, which expects a growth GDP of 4% and 6% outside hydrocarbons.
The World Bank projects Algeria's economic growth to stand at 4.1% between 2011 and 2012, compared with 2.4% in 2010, according to a WB report published by Global Arab Network. Current account balance will remain positive to stand at +6.2% of GDP in 2011 and +3.4% in 2012, against +4.6% in 2010, the report said.
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