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FinancialNews
09-09-18
World Bank calls on Algeria for economic diversification
(MENAFN) Algeria has received a call to work on diversifying its economy and pay more attention to yputh employment.
The appeal has been made by Ferid Belhaj, the World Bank vice-president for the Middle East and North Africa during an interview with state news agency APS.
The vice-president of the World Bank also stressed that Algeria is in possession of sufficient funding, and foreign loans are not a necessity for it.
Belhaj stated "Algeria has sufficient funding and does not need to borrow from the World Bank or anyone else."
Belhaj noted "today, Algeria's economy is centred on hydrocarbon. There will be a need to change and diversify in this country, which has huge potential," adding "this can happen only by relieving the private sector of certain constraints."
MENAFN0909201800450000ID1097406863
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