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✏️ By: Dr. Hana Saada
Algiers, Algeria | July 15th, 2024 — In a recent forum hosted by Algerian newspaper El Moudjahid, Kamel Braham, the World Bank’s resident representative in Algeria, highlighted Algeria’s robust economic momentum despite global uncertainties. Braham emphasized Algeria’s consistent growth rate of 4% over the past three years, a notable achievement amidst global economic struggles. He underscored that this economic resilience is evident both on the ground and in statistical data.
Braham noted the catalytic effect of the Covid-19 pandemic on Algeria’s economy, particularly in bolstering industrial sectors to meet domestic demand, contrasting with global difficulties in economic recovery. He highlighted Algeria’s swift return to pre-pandemic economic levels by 2022.
The World Bank representative commended Algeria’s fiscal policies, noting their effectiveness in managing public resources, maintaining consumption levels, and funding public investments. Significant economic measures mentioned included the adoption of a new investment law, the establishment of the Algerian Investment Promotion Agency, and forthcoming opportunities in digital, Islamic, and green finance under a new banking law.
Braham emphasized Algeria’s pivotal role as a partner for the World Bank, characterized by high levels of technical assistance and a relationship built on mutual respect and trust. Algeria’s proactive economic strategies, amidst global challenges, reflect its commitment to sustainable growth and development.
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