The World Bank Group (WBG) classified Algeria among upper-middle-income countries for the second consecutive year in its latest annual update of member country economic classifications as its fiscal year begins, Algeria Press Service (APS) reported.
According to the World Bank Group’s classification, Algeria moved last year from “lower middle-income country” status to “upper middle-income country” status, following a comprehensive review of economic data.
The Ministry of Finance had said at the time that “the main factor that contributed to upgrading our country’s classification relates to the comprehensive revision of national accounts statistics undertaken by the National Statistics Office (ONS), aimed at aligning with current international standards.”
