Economy

Algeria Economy

The largest economy in the Maghreb, Algeria is also the region’s wealthiest country in terms of purchasing power parity-adjusted per capita. Hydrocarbons are the mainstay of economic activity; however, amid slowing production and exports, as well as the sharp drop in oil prices since mid-2014, the government is taking a range of measures to develop other sectors, with a particular focus on industry, agriculture and tourism. These should bolster diversification efforts that will have long-term benefits, in particular given anticipated falls in oil and gas production over the coming decades, and the long-term prospects are positive. This chapter contains interviews with Ali Haddad, President, Forum des Chefs d’Entreprise; Zied Ladhari, Tunisian Minister of Industry; and Jaime García-Legaz, Former Secretary of State for Trade.