Food prices in Algeria up 13.6%, World Bank says

Inflation remained high in Algeria, reaching 9.4 per cent during the first nine months of 2022, primarily due to a 13.6 per cent increase in the prices of foodstuffs, according to the latest version of the World Bank report on the latest economic developments in the North African state.

The publication, issued on 4 January, recommended being cautious regarding the increase in government spending to confront these conditions, warning of challenges in the medium term in the event that global oil prices decrease; impacting government revenues.

Resident representative of the World Bank in Algeria, Kamel Braham, emphasised the need to implement the government’s action plan and its included measures regarding increasing tax revenues, raising the efficiency level in the use of public resources, and encouraging private sector investments as basic steps to enable the country to confront global challenges.

The World Bank said it expected the Algerian economy to grow by 2.3 per cent in 2023, lower than the regional average expected growth of 3.5 per cent.

A report prepared by the Algerian League for the Defence of Human Rights (LADDH) indicated that 15 million Algerians live below the poverty line.

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