Algeria’s GDP up 3.8% in 2016
The country’s economy grew despite the oil price slump, according to the World Bank. In 2017, however, growth is expected to slow to 1.5%.
São Paulo – The economy of Algeria grew by 3.8% in 2016, nearly flat with the 3.9% rate recorded in 2015, despite the oil price slump. This year, however, growth should be weaker at 1.5% as a result of the rebalancing of national finances. The data are from a report on the economy scenario in the Middle East and North Africa made public this Monday (17) by the World Bank, Algérie Presse Service (APS) reported.
Performance in 2016 was mostly driven by pickup in production of hydrocarbons (oil, gas and their products), which was up 3.6%, up from only 0.4% the preceding year.
In 2018, the World Bank sees Algeria’s economy slowing further at 0.6% growth, and then rebounding in 2019, when Gross Domestic Product (GDP) could be up 1.5%.
*Translated by Gabriel Pomerancblum