Algeria’s non-hydrocarbon economy grows 4.8 pct in 2024: World Bank

ALGIERS, June 2 (Xinhua) — Algeria’s non-hydrocarbon economy expanded by 4.8 percent in 2024, driven by strong public investment and resilient household consumption, the World Bank said in a report previewed on Monday in Algiers.

“Algeria is maintaining solid economic momentum, with non-hydrocarbon GDP expanding by 4.8 percent this year,” World Bank economist Amel Henider told reporters at a press conference.

Henider said inflation had eased to 4.0 percent, citing improved agricultural output as a key factor in stabilising food prices, despite low rainfall.

Rising domestic demand has also supported growth in manufacturing, trade, and services, particularly in hospitality, including hotels and restaurants, she added.

The full report is expected to be released on Tuesday.

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