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2000-2013: Algeria’s economic indicators sustained

ALGIERS-  Between 2000 and 2013 and despite the global crisis, Algeria has succeeded to protect its economy, increase the volume of productive investments, giving room to better coverage of social demand and a substantial foreign exchange reserves of $194 billion.

All economic indicators of Algeria are positive with an extremely comfortable external position compared to the economies of the sub-region; the Maghreb and Middle East and North Africa (MENA).

With an average GDP growth ranging between 3.5% to 4% during the period from 2000 to 2013, -and the 5.9% peak in 2005-, Algeria has substantially enhanced all its economic aggregates and reduced to an insignificant level the external public debt at just over $300 million compared to $30 billion in late 1990s, according to figures from the Prime Ministry Office.

During the spring meetings 2013 of the Bretton Woods institutions (World Bank, IMF and WTO), the IMF has rated Algeria as the MENA’s least indebted country in 2012, and which foreign exchange reserves are the second largest after Saudi Arabia.

This economic and financial improvement is, in fact, the result of the good conduct of three five-year development plans, intended to reviving production, growth and employment, through huge significant investments, so to meet the ever growing social demand in terms of housing, health, roads, transport, food, access to water, public services.

Thus, Algeria managed to recover and improve its main financial indicators, notably an increase of 324% of gross domestic product (GDP) during the period 2000 and 2013.

 Tuesday, 11 March 2014

 

 

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