Algeria’s Interest in BRICS: A Wealth of Resources and Economic Diversification
In anticipation of the forthcoming BRICS Summit, Algeria has expressed its desire to join the influential bloc. Here are the key points:
- Algeria has officially applied to become a shareholder member of the BRICS group.
- The country plans to contribute $1.5 billion to the BRICS bank.
- Algeria possesses abundant resources such as petroleum gas, crude petroleum, nitrogenous fertilizers, and minerals.
- With a focus on economic diversification, Algeria aims to tap into its untapped gold reserves.
- The World Bank projects a 2.3% growth in Algeria’s GDP this year.
The 15th BRICS Summit, scheduled for August 2023 in Johannesburg, South Africa, will be the first in-person meeting since the Covid-19 pandemic. While it remains uncertain if new countries will join the alliance, speculation is high.
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