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Algeria top African countries with high potential for economic and social development in 2013

ALGIERS - Algeria came in 2013 in top African countries with great potential for economic and social development, according to a survey prepared by Jeune Afrique magazine.

Algeria was in top of 54 African countries in terms of efforts for economic and social development ahead of Egypt, Mauritius, Libya, or South Africa, the study which took into account two main factors namely the level of economic and social development said.

The study published in the special issue No. 35 of the magazine noted the "rise" of Algeria, which, through the exploitation of its natural resources has made significant economic performance.

On the economic front, five indicators are selected from statistical databases of international organizations. The gross domestic product and per capita income, the amount of non-oil exports, industrial added value (which measures the ability of manufacturing transformation) and the level of debt remains a fundamental element of public finances of the concerned countries.

For social measure, it refers to the classification established by the United Nations Development Programme (UNDP) according to the Human Development Index (HDI) which takes into account the wealth, education and health of the population of each country.

Thus, wealth is measured by the gross national income per capita (including transfers from abroad and development aid), while the HDI takes into account the expected duration of the education of children and the number of years of schooling of the adult population and finally the life expectancy which remains a key health indicator.

In this list, the most remarkable change is that of Libya, which moves up from 19th position in 2012 to 4th despite political instability. But the rapid recovery of hydrocarbon activity which accounts for two thirds of GDP, has enabled the country to earn some places.

The South Africa loses 5 places for its part mainly because of the many strikes that shook its economy and mining sector.

(APS) Sunday 29 December 2013

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