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Algeria has huge growth potential, says WB

APS - 19 March 2017

WASHINGTON- Algeria has an immense growth and development potential, the World Bank (WB) said in a statement, noting the country's successful reduction in poverty rates over the last fifteen years.

Algeria has managed during the past 15 years to reduce the rate of poverty from 20 to 7 percent, which is a significant success, said the WB deputy chairman for the Middle East and North Africa (MENA), Hafez Ghanem, who is on a visit to Algeria.

Ghanem stressed the importance of building on such achievements to get a more productive and innovative society.

The World Bank has provided assistance to several countries in their reform programmes, including Poland, Kazakhstan and Viet Nam, he said in a statement issued by the financial institution.

The WB official expressed wish that Algeria benefits from World Bank's expertise in laying the foundations for the future sustainable development.

He added that Algeria has a huge potential and is developing a strategic vision to make full use of it.