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Business opportunities in MEDA countries Algeria Overview References Capital Algiers Surface area 2,382,000 km2 Population 2003 33.9 millions inhabitants (2005) Languages Arabic, French, Berber GNP (dollars) US$ US 102 bn (2005) GNP/per capita (dollars) US$ US 3,085– 7,189 in ppp. (2005) Currency (2005) Algerian Dinar (DZ). 1 Euro = 95,19 DZ – 1 US$ = 71,23 DZ Religion Sunni Muslims (99 %) National holiday 5th July (independence in 1962) Association Agreement with EU Signed in2002, implemented on 1st September 2005. EU web site: http://www.deldza.cec.eu.int WTO membership Observer since 1985. Membership being negotiated. Sources: World Bank, FMI, World Development Indicators 2006 and IMF, Article IV Consultation 2005, Country report.
Economic profile 37 Invest in Algeria Contingent to Europe, Africa, and Arab nations, Algeria is the largest of the five Maghreb countries (Mauritania, Morocco, Algeria, Tunisia and Libya), the second largest country on the African continent after Sudan and tenth largest in the world. This strategic geographic location offers many advantages likely to boost investment potential, in particular foreign investment in export‐oriented activities. The hydrocarbons sector is the backbone of the economy. At the beginning of the 90s, the Algerian government started a process of transition from a centralised to a market‐oriented economy by implementing stabilisation and structural adjustment programmes with the technical assistance and financial support of the IMF, the World Bank, and the European Union. A significant progress has been made in structural reforms thanks to this programme, financial and economic indicators have been successfully stabilised, and a more dynamic private sector is emerging, attracting greater inflows of foreign direct investments (FDI). Algeria’s economic growth has continued to be underpinned by ongoing growth in oil and gas exports, (revenues from hydrocarbons represent 97 percent of export earnings from goods and non factor services), leading to a large increase in the trade surplus (US$ 50 billion). Thus, GDP grew from around 3 percent in 2000‐02 to nearly 6 percent in 2003‐04 and 5.1 percent in 2005. Thanks to taxes on oil, which represent more than 60 percent of public revenue, this comfortable financial situation led authorities to pursue an expansionist budgetary policy and launch the Complementary Plan for Support to Growth (Programme complémentaire de soutien à la croissance – PCSC), which earmarks public expenditure for the period 2005‐09, and the National Programme for Agricultural Development (PNDA).
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Jordan General overview References
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Libya Overview References Official
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Building Construction Invest in the
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Syria Overview References Capital C
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Turkey Overview References Capital
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