Economy in Algeria

Dear reader

Our third country during our trip was Algeria. There we have visited the city Algiers. It is the largest city of Algeria. We had a beautiful time over there.
I want to tell you a bit more about the economy over there. The city has a very important economic, commercial and financial centre. It has a particular stock exchange with a capitalization of 60 million euros. It has the highest cost of living in Nord-Africa and is ranked at the 50th place worldwide. The president of the Counsel of Administration, Mohamaed Ben Ali El Abbar, has also presented five projects to transform the surroundings of the city.
The port of Algiers is also the most important one of Nord Africa.

The country Algeria stands on the 10^th place as regards the biggest reserves of natural gas in the world and the 16^th place in reserves of oil. Most of the reserves are situated in the Eastern Sahara.

According to the profile of 2012 the public expenses are increased by 27 % the last five years.

The unemployment is also there a ‘problem’, especially among young people. The unemployment rate is namely 21,5 % in the age group of 15-24 years. This is a seriously jump in relation to the year 2011, than it was only 10 %. There are measures needed to fix this job supply. They have to make education more democratic and they also have to expand the vocational training and the higher education.

Did you also know that approximately 45 % of the wealth is in the hands of the top 5 % of the population?

Finally I want you to know that Algerian trades principally with France, Italy,
the United States and Spain.

I liked this country quite well and I am looking forward to Tunisia.

Sources:

• http://en.wikipedia.org/wiki/Algiers#Economy
  
• http://www.mongabay.com/reference/new_profiles/909.html
• http://www.indexmundi.com/algeria/economy_profile.html
• http://www.africaneconomicoutlook.org/en/countries/north-africa/algeria/
• http://www.xpatulator.com/cost-of-living-review/Algeria-Algiers_3.cfm