IMF: Algeria Among The World’s Fastest-Growing Economies In 2022
According to International Monetary Fund forecasts, Algeria’s Real GDP growth rate reaches 4.7% at the end of 2022 placing it among the fastest-growing economies in the world.
International Monetary Fund, based on its forecasts for global economic growth rates, has issued an interactive map that divides growth rates into five categories (6% or more, 3%-6%, 0%-3%, 3%-0, and less than 3%), from the fastest to the slowest and Algeria ranks in the second category.
International Monetary Fund, based on its forecasts for global economic growth rates, has issued an interactive map that divides growth rates into five categories (6% or more, 3%-6%, 0%-3%, 3%-0, and less than 3%), from the fastest to the slowest and Algeria ranks in the second category.
Algeria’s category in this map includes countries whose growth rate ranges between 3 and 6%. Similar to China (3.2 %), Canada (3.3%), Australia (3.8%), and Turkey (5%).
While the first category includes countries whose growth rate is expected to exceed 6%, such as Iraq, whose economy will be the fastest growing in the world (9.3%), Ireland (9%), and Saudi Arabia (7.6%).
Algeria topped the Maghreb economies in terms of growth, compared to Morocco (0.8%), Tunisia (2.2%), Libya (-18.5%), and Mauritania (4%).
Algeria’s GDP growth rate is also the fastest in the Western Mediterranean region, which also includes Italy (3.2%), France (2.5%) and Spain (4.3%).
The International Monetary Fund placed Algeria among the six Arab economies that will record the highest growth rates by the end of 2022, despite the effects of the global economic slowdown, in light of the continuing crisis of the war in Ukraine and the COVID-19 pandemic.
The 10 Fastest-Growing Arab Economies in 2022 are Iraq (9.3%), Kuwait (8.7%) , Saudi Arabia (7.6%), Egypt (6.6%), UAE (5.1%), Algeria (4.7%), Oman (4.4%), Palestine (4%), Qatar (3.4%) and Bahrain (3.4%).
While the first category includes countries whose growth rate is expected to exceed 6%, such as Iraq, whose economy will be the fastest growing in the world (9.3%), Ireland (9%), and Saudi Arabia (7.6%).
Algeria topped the Maghreb economies in terms of growth, compared to Morocco (0.8%), Tunisia (2.2%), Libya (-18.5%), and Mauritania (4%).
Algeria’s GDP growth rate is also the fastest in the Western Mediterranean region, which also includes Italy (3.2%), France (2.5%) and Spain (4.3%).
The International Monetary Fund placed Algeria among the six Arab economies that will record the highest growth rates by the end of 2022, despite the effects of the global economic slowdown, in light of the continuing crisis of the war in Ukraine and the COVID-19 pandemic.
The 10 Fastest-Growing Arab Economies in 2022 are Iraq (9.3%), Kuwait (8.7%) , Saudi Arabia (7.6%), Egypt (6.6%), UAE (5.1%), Algeria (4.7%), Oman (4.4%), Palestine (4%), Qatar (3.4%) and Bahrain (3.4%).
MENA Economies grow by 5.5% but benefits are uneven, IMF reported said.
IMF explained that the economies of the Middle East and North Africa (MENA) region are expected to grow by 5.5% this year —the fastest rate since 2016—followed by a slowing of growth to 3.5% in 2023. Yet this growth is uneven across the region, as countries, still struggling to overcome the lasting effects of the COVID-19 pandemic, face jolting new shocks from higher oil and food prices brought on by the war in Ukraine, rising global interest rates, and slowdowns in the United States, China, and the Euro area.