✏️ BY: Dr. Hana Saada
Algiers, Algeria | July 2nd 2024 — The World Bank’s recent update to its annual economic classification reveals a significant improvement in Algeria’s standing, reflecting the country’s ongoing efforts to enhance its economic indicators, according to a statement from the Ministry of Finance.
Significant Increase in Gross National Income Per Capita
According to the Ministry of Finance, Algeria’s Gross National Income (GNI) per capita has increased notably, from 3,900 USD between July 1, 2022, and June 30, 2023, to 4,960 USD between July 1, 2023, and June 30, 2024. This update, set to be officially released on July 1 at the beginning of the World Bank’s new fiscal year, underscores the continuous efforts made by Algeria to improve its economic performance.
Criteria for Classification
The new classification takes into account various economic data recorded over the past year, including economic growth, inflation, exchange rates, and demographic growth, all of which influence the GNI per capita. Additionally, revisions in national accounting methods and classification thresholds play a crucial role.
To maintain realistic classification thresholds, they are adjusted for inflation using the Special Drawing Rights (SDR) deflator. In alignment with the International Monetary Fund (IMF), the World Bank has recognized the accuracy of Algeria’s statistical results, reflecting the efforts made to provide an accurate representation of the national economy.
Revision of National Accounts Statistics
According to the World Bank’s criteria for the 2024 fiscal year, global economies are classified into four categories:
- Low-Income Economies (GNI per capita ≤ 1,135 USD)
- Lower Middle-Income Economies (GNI per capita between 1,136 and 4,465 USD)
- Upper Middle-Income Economies (GNI per capita between 4,466 and 13,845 USD)
- High-Income Economies (GNI per capita ≥ 13,846 USD)
The improvement in Algeria’s classification is primarily due to the comprehensive revision of national accounts statistics conducted by the National Statistics Office (ONS). This revision aims to align Algerian statistics with current international standards (SNA2008).
Impact of Revisions and National Efforts
The alignment of statistics not only led to a rebasement of GDP, with an average increase of 13.3% over the period from 2018 to 2022, but also considered other factors. These include recent growth achievements, expansion of public investment, consolidation of productive economic sectors, strengthening of good governance in public finances, and advancements in statistical measurement and data production methods. Improved coverage of the informal economy has also contributed to this enhancement.
Algeria’s improved position in the World Bank’s new economic classification highlights the country’s sustained efforts to strengthen its economic performance and align its practices with international standards. These developments are essential for continuing to attract investment and fostering sustainable economic growth.
About Dzair Tube Media Group
Dzair Tube has firmly established itself as a prominent player among Algerian digital news sites, offering a diverse and enriching content experience. The platform, available in Arabic, French, and English editions, captures the attention of a wide-ranging audience, amassing over half a million daily clicks.
A testament to its commitment to excellence, Dzair Tube received the prestigious President of the Republic’s Award for Professional Journalist in the Electronic Press category on October 22, 2022. This recognition underscores the platform’s unwavering dedication to upholding the highest standards of journalism.
With a significant online presence, Dzair Tube boasts 350,000 subscribers on YouTube, over five million followers on various Facebook pages, and 450,000 subscribers on Instagram. Its digital channel has become a hub for diverse programming, covering news, sports, entertainment, culture, and religion, catering to a broad spectrum of audience preferences.
Equipped with state-of-the-art studios and advanced technology, Dzair Tube’s digital channel has garnered substantial viewership for its varied programs. Hosting interactive discussions with influential figures across different domains, the platform actively fosters public discourse and engagement. Beyond news coverage, Dzair Tube extends its commitment to the production of marketing documentaries, short TV commercials, and high-viewership programs.
The success of the print edition of Dzair Tube’s sports newspaper, “Dzair Sport,” further highlights the platform’s impact, with over 50,000 daily downloads from the official Dzair Tube website.
Honored with the Media Leadership Award from the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the landscape of Algerian digital news, maintaining a position of influence and impact in the media industry.
