BY: Dr. Hana Saada
ALGIERS- Speaking at a press conference in Algiers on Saturday, Finance Minister Mr. Laaziz Faid addressed Algeria’s accession to the New Development Bank (NDB) of BRICS.
Indeed, according to the minister, Algeria’s accession process to the BRICS bank is nearly completed and will be finalized in the coming days.
Mr. Faid, who discussed the conclusions of the latest World Bank and IMF meetings he attended in New York, also revealed Algeria’s GDP growth rate for the year 2023. He assured that the growth rate reached 4.1%, in line with IMF predictions.
$69 Billion in Foreign Exchange Reserves
Furthermore, the minister stated that Algeria’s foreign exchange reserves were estimated at $69 billion in 2023, with a 4.5% increase in the value of the dinar compared to the US dollar during the same year.
Finally, regarding the introduction of the Local Development Bank (BDL) to the stock market, Mr. Faid assured that this process would be officially completed in the coming days. This step, part of the banking sector reforms initiated by President Abdelmadjid Tebboune, will mark a historic milestone for public banks after the introduction of CPA shares last March.
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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.
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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.
