Ramirez said he expects output will resume within two days after the flames are extinguished.

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The plant, which is responsible for more than a tenth of Algeria's overall gas output, is expected to resume production by Tuesday, Algeria's Energy Minister Youcef Yousfi said.

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The main exception is in smaller East Asian countries, where industrial output is rebounding and GDP growth is likely to resume in the second quarter.

ECONOMIST: BRICs, emerging markets and the world economy