Mediterranean country, the gate of Africa and center of the Maghreb, Algeria is the biggest country in the continent with an area of nearly 2.5 square kilometers and dynamic demographics (natural growth rate of around 2.2% per year with 39.5 million inhabitants on January 2015 and a forecast of 40.4 million in 2016), Algeria has the highest GDP per capita in North Africa (14 259 USD parity of purchasing power) and the fourth GDP of Africa (214 billion USD in 2014).
The natural resources of its subsoil (especially oil and gas: the fourth largest exporter) generate 97% of export revenues (58.3 billion USD in 2014) and 60% of budgetary revenues.
The rise of oil prices on international markets in 2000 gave the Algerian authorities the ability and the support to achieve the economic and social development ambitions.
Algeria has a healthy macroeconomic situation with an external debt of less than 2% of GDP and foreign exchange reserves of around 180 billion USD at the end of December 2014 (covering two and a half years of imports).
Inflationary pressures observed in 2012 (8.9% versus 4% inflation in 2011 and 2010) have receded in 2013 with a rate of 3.3% on annual average year and stabilized at 2 9% in 2014. Alongside these positive indicators, the unemployment rate decreased in 2013 (9.3%) increased again in 2014 to reach 10.6% (with a youth unemployment rate of over 25%), it becomes a concern for the authorities.
Moreover, the fall of oil prices started in the second half of 2014 negatively impacted the external balance of Algeria, and pushes the authorities to implement new policies. Diversification of the economy, modernization and infrastructure development, investment and job creation are the main lines of the country's development policy.
A comprehensive plan of investments in the period between 2009 and 2014 of 286 billion USD is close to completion. A new five-year plan for the period between 2015 and 2019 is being finalized.