The Algerian Economy

... The financial ease recovered in Algeria was to put an end to a deep economic crisis. Nearly $730 billion in external revenues were collected between 2000 and 2014, of which nearly three quarters were recycled into public spending. Although a catch-up in terms of infrastructure has taken place, and the living conditions of the population have improved, the Algerian economy remains highly dependent on hydrocarbons, which account for nearly one-third of GDP, 96% of export revenues, 70% of tax revenues, and only 3% of the working population. In fact, this economic equation has remained unchanged for some 30 years. In a context marked by expectations of falling oil prices, stagnant oil production due to Covid-19, and a sharp rise in domestic energy demand, the economic growth model is no longer viable. However, Algeria should deepen measures to broaden the tax base and implement a program to diversify its economy in order to limit internal public debt and expand its non-hydrocarbon exports.

Autorentext

Ahmed Benhabbour, né à Mécheria (Algérie), le 12/06/1963, est titulaire du Diplôme d'études supérieures en Banque et Finance, ancien Banquier, auteur passionné d'Histoire des civilisations antiques et contemporaines, il est notamment l'auteur de deux ouvrages : Au Cur du Ksar de Chellala et Connaître la Finance Islamique.