Algeria

The People's Democratic Republic of Algeria (Arabic: ????????? ????????? ??????????? ???????) , or Algeria (Arabic: ???????), is a presidential state in north Africa, and the second largest country on the African continent, Sudan being the largest. It is bordered by Tunisia in the northeast, Libya in the east, Niger in the southeast, Mali and Mauritania in the southwest, and Morocco as well as a few kilometers of its annexed territory, Western Sahara, in the west. Constitutionally, it is defined as an Islamic, Arab, and Amazigh (Berber) country. The name Algeria is derived from the name of the city of Algiers, from the Arabic word al-jazā’ir, which translates as the islands, referring to the four islands which lay off that city's coast until becoming part of the mainland in 1525.

Economy

Main article: Economy of Algeria

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The hydrocarbons sector is the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the fifth-largest reserves of natural gas in the world and is the second largest gas exporter; it ranks 14th in Petroleum reserves.

Related Topics:
Hydrocarbons - GDP - Natural gas - Petroleum

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Algeria’s financial and economic indicators improved during the mid-1990s, in part because of policy reforms supported by the IMF and debt rescheduling from the Paris Club. Algeria’s finances in 2000 and 2001 benefited from an increase in oil prices and the government’s tight fiscal policy, leading to a large increase in the trade surplus, record highs in foreign exchange reserves, and reduction in foreign debt. The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector has had little success in reducing high unemployment and improving living standards. In 2001, the government signed an Association Treaty with the European Union that will eventually lower tariffs and increase trade.

Related Topics:
Paris Club - 2000 - 2001 - European Union

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