World Bank headquarters in Washington. WBG
The World Bank released on Thursday An update In response to the “recent report on the monitoring of the economic situation in Algeria”, the Algerian regime and its media put forward irrational reaction and conspiracy theories.
Algiers and its media sought to involve Morocco in the design of the report, such as the wildfire in Capelia and the stoning of young Dijmal Benzmail last summer. The official Algerian news agency APS has accused the World Bank of covering up the campaign, which is targeting the country. “Real Numbers of Poverty in Morocco” And accused Ferd Belhaj of Tunisia, vice president of the World Bank in charge of the MENA region, of drafting. “A Serious Report” Partnership with Rabat in Algeria.
The Washington-based International Monetary Fund exploded “True misinformation about the content of the report was prepared in a very serious manner, as well as its authors, a team of economists working in the Maghreb region”.
“We would like to point out that the World Bank continues to prepare economic statements for its member countries. The Algerian economic situation monitoring report is prepared twice a year. “ Recalls the same source in its clarification, indicating what the last statement in question was “Subject to thorough quality review prior to publication, exclusively on the basis of public data, reference in the document or data provided by member countries’ authorities”.
And add it “The results of the report are consistent with the official data available on the report’s deadline (November 1, 2021).”
World Bank More, “He noted with regret that some of the articles mentioned above have adopted language that goes beyond the thoughts of their anonymous authors.
Recalling that the World Bank Group is an international development body created by member countries, it has established itself “The Dual Purpose of Ending Poverty and Promoting Shared Prosperity” That emphasizes emphasis “The staff and management of the World Bank Group serve only the purposes of the organization.”
The International Monetary Fund report paints a bad picture “Vulnerable” The economy of Algeria, this “Always depend” Hydrocarbon revenues with less room for maneuver.
“The recovery of the non-hydrocarbon segment of the economy has gone without steam, and is often incomplete, while inflation risks are emerging,” he said. The World Bank noted that GDP contracted in the first and second quarters of 2021, following a slowdown in the performance of the construction and services sectors. The report further emphasizes that inflation will increase significantly in 2021 and have a devastating effect. “Proportionally Vulnerable Families”, Warning “If the reform agenda is not implemented quickly, the recovery will be weak and financial and external balances will worsen in the medium term.” “
In the first half of 2021, real private and public consumption was below its pre-epidemic level, indicating that tax revenue in 2020 will fall (-14.6) under the combined effect of a sharp fall in hydrocarbons. Revenue (-28%) and decline “Moderate” Tax revenue.
For its part, “Public debt is set to explode in 2021, while the Treasury is implementing a major debt repayment plan to support the public sector,” he said. Bretton Woods reports that domestic public debt increased by 12.9% by the end of 2020 and the end of July 2021.
Further, “A disappointing harvest, efforts to rationalize subsidies and the depreciation of the national currency are contributing to a significant rise in inflation,” he said. World Bank experts point out that in October 2021, the consumer price index rose 9.2% year-on-year, the highest since 2012.
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