Algeria is among only 4 countries that have moved to the highest per capita income category!

The World Bank continues its positive publications on the state of the Algerian economy and the reforms and achievements achieved in recent months, praising its move to the upper middle-income category among only 4 countries in the world that have succeeded in this transition.
The World Bank published an article on its website in which it confirmed that Algeria has followed an ambitious path towards sustainable development, based on the pillars of resilience, innovation and economic modernization, achieving outstanding achievements this year.The World Bank stresses that the latest of these achievements was evident in the World Bank’s annual income classification report issued on July 1, 2024, where Algeria was one of only four countries in the world that succeeded in moving from the category of lower-middle-income countries to the category of upper-middle-income countries.
The World Bank considered that this qualitative transformation is mainly due to the modernization of the statistical system, which allowed for a more accurate measurement of the gross domestic product. Despite the growth of the Algerian economy by 4.1 percent in 2023, the main driver of this improvement was the comprehensive review of national accounts statistics, which included expanding investment estimates. and more accurate coverage of the informal economy.
In this context, Kamal Brahim, Resident Representative of the World Bank in Algeria, said: “The process of changing the base year for the GDP series, which was completed in 2024, made it possible to assess the Algerian economy more accurately, and thus reclassify the country in the category most appropriate to its level of development.” The spokesman added: “This confirms the importance of providing accurate data in directing economic policies.”
Recent World Bank reports have also highlighted the strategic importance of improving data collection in order to facilitate the diversification of the economy in Algeria, as improved and more transparent data enable understanding of the dynamics of the national economy, allowing for the formulation of more effective policies.
Another achievement for Algeria was included in the World Bank’s report tracking global gas flaring issued in June. The report showed that Algeria achieved the largest decline in gas flaring globally in 2023, recording the third consecutive year of decline in gas flaring emissions, in addition to a decrease in gas production. oil by 2 percent, as the country succeeded in achieving an overall 3 percent reduction in flaring intensity, setting an example in a year in which global trends were not positive.
The World Bank continues a strategic dialogue with Algeria on the sustainability of the energy sector, and technical assistance is focused on two main axes: supporting the development of a bankable program for wind energy, and helping to prepare a strategy to promote renewable energy for various categories of consumers, as these initiatives aim to diversify the energy mix in Algeria and promote sustainable development growth in this vital sector.
In a related context, the World Bank supports Algeria in its efforts to enhance resilience, especially in facing the challenges of climate change, as Algeria is exposed to a wide range of natural hazards, such as floods, earthquakes, and forest fires, which threaten lives and livelihoods and inflict huge losses on the economy.
The World Bank’s semi-annual economic reports on Algeria, according to the same body, are an important reference that decision-makers and stakeholders rely on to guide policies and enrich public dialogue. With the improvement of data collection mechanisms and the use of alternative sources, these reports provide deep insights into the country’s diverse growth path.
The World Bank confirmed that, looking to the future, priorities such as energy, climate resilience, and strengthening the private sector constitute promising axes for further cooperation within the framework of the fruitful partnership between the World Bank and Algeria.