Amid the constant change that has recently characterised North Africa, Algeria has charted a path of relative stability. This is largely due to vast oil and gas resources that have made it Africa’s fourth-largest economy. Hydrocarbons represent 31% of GDP and more than 60% of government revenue. They have also made Algeria a top exporter of energy to the US, Europe and a rising number of developing countries. Geography & Climate Algeria is Africa’s largest country. It borders the Mediterranean…
From The Report: Algeria 2016
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Algeria is Africa’s largest country. Its population – which is currently just under 40m – is rising at an annual rate of 1.9%. Like many other countries in North Africa, the population is young, with two-thirds under the age of 30. Hydrocarbons have long been the economy’s primary driver. The country is the world’s sixth-largest gas exporter, and has the 10th-largest natural gas reserves. However, as a result of the recent drop in hydrocarbons prices, GDP growth softened to 3.9% in 2015, while the fiscal deficit doubled in the same year. The government made moves to trim spending in 2016, but ring-fenced a number of capital projects to ensure productive investments continue. Algeria has maintained an impressive degree of stability, with the government focusing on helping to stave off further unrest in the region and working to strengthen the country’s baseline economic indicators. This chapter contains interviews with President Abdelaziz Bouteflika; Greg Hands, UK Minister of State for International Trade; and Akinwumi Adesina, President, African Development Bank.