The latest monitoring report on the economic situation in Algeria by the World Bank proved controversial. Government representatives and media outlets objected to the findings published on December 22, writes our correspondent.
In the report, the World Bank depicts a gloomy situation of the economy in Algeria, which not only was hit by the pandemic but also seems held back by a lack of reforms. In addition, the revenues from the oil and gas industries are levelling off and the government is facing political and social tensions. Not to mention inflation, which accelerated sharply in 2021, affecting households disproportionately. Compared with Morocco and Tunisia, its neighbors in the Maghreb, Algeria is called upon to diversify its economy, which is heavily dependent on the oil and gas sector.
Hard hit by the Covid-19 pandemic, Algeria will need to urgently boost its economic growth. Due to the fall in oil prices, Algeria…
View original post 968 more words