Une réussite majeure de l’Algérie

A major success for Algeria

Reduction of gas flaring

In an article published on its website, entitled ”Algeria’s ambitious development path”, the World Bank (WB) noted that in addition to a 2% decrease in its oil production, Algeria managed to reduce the intensity of flaring by 3%, thus offering a positive example in a year when global trends were less favorable. “Algeria recorded the largest reduction in gas flaring observed globally in 2023, marking a third consecutive year of decline in these emissions,” the WB said. Stressing, on the occasion, that it maintains “a strategic dialogue with Algeria concerning the sustainability of its energy sector.”
The technical assistance, the same source said, focuses on two main areas, namely supporting the development of a bankable wind energy program and contributing to the development of a strategy to promote renewable energy for different types of consumers. “These initiatives aim to diversify Algeria’s energy mix,” the WB noted, affirming that it supports Algeria in several other areas, such as its quest for resilience to the impacts of climate change and natural hazards, data collection…
In its article entitled “ambitious development path taken by Algeria”, the WB also highlighted the progress made by Algeria in terms of development and which materialized in various economic achievements, which allowed it to be among the only four countries in the world to have crossed the threshold of a classification from the lower middle income category to the upper category.
“Algeria is pursuing an ambitious path for its development,” we read in this article.
By focusing on strengthening resilience, adopting innovations and economic modernization, the same source added, the country has reached a new important milestone this year. Noting that the development approach was reflected in the WB’s annual income classification report published on July 1, 2024, where Algeria is one of only four countries in the world to have crossed the threshold of a lower to upper middle income classification. “This significant change is mainly attributable to the modernization of systems aimed at strengthening statistical capacities, thus allowing a more accurate measurement of the Gross Domestic Product (GDP),” notes the financial institution.
Referring to the 4.1% growth rate of the Algerian economy recorded in 2023, the World Bank noted that the main factor contributing to this improvement in ranking was the complete revision of national accounts statistics, including an expansion of investment estimates and better coverage of the informal economy.
“The rebasing of the GDP, finalized in 2024, allowed a more precise evaluation of the Algerian economy, and thus to declassify the country in the category which best reflects its level of economic development,” estimates the WB, quoting the resident representative of the World Bank in Algeria, Kamel Braham.
This, notes the same source, underlines the crucial importance of the availability of reliable data to guide economic policies, knowing that the strategic importance of improving data collection to support the diversification of growth in Algeria has been highlighted as a priority in the latest World Bank reports.
Rabah Mokhtari