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World Bank forecasts 3.3% growth in Algeria in 2014

WASHINGTON - The World Bank forecasts 3.3% economic growth in Algeria in 2014 (against 2.8% in 2013), set to modestly increase to 3.5% in 2015 and in 2016.

Acccording to the new updated forecasts in the global economic outlook published Tuesday, the WB slightly revised upwards the Algerian GDP growth in 2014 compared with its last June forecasts in which it predicted a 3.2% economic growth for 2014.

As for the country’s current account balance, the World Bank say that it should stand at 2.6% of GDP in 2014 (against 2.7% in 2013) and 0.1% in 2015.

Concerning the region of Middle East and North Africa (MENA), the Bretton Woods Institution forecasts an overall growth rate of 2.8% in 2014, before rising to 3.3% in 2015 and 3.6% in 2016.

These figures are well below the region’s potentials, it commented.

For the World Bank, the economies of MENA region still move at idle speed due to the political trouble in Egypt, the deadlock in Tunisia and the escalation of violence in Syria, and their impacts on neighboring countries as Lebanon and Jordan.

In its new forecasts, the World Bank predicts a 3.2% rate of world GDP growth in 2014 (against 2.4% in 2013) before stabilizing at 3.4% in 2015 and 3.5% en 2016.

(APS) Wednesday 15 January 2014

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