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The economy of Algeria deals with Algeria's current and structural economic situation. Since independence in 1962, Algeria has launched major economic projects to build up a dense industrial base. Since independence in 1962, Algeria has launched major economic projects to build up a dense industrial base.
The Algerian economy became increasingly dependent on oil, leading to hardship when the price collapsed during the 1980s oil glut. [160] Economic recession caused by the crash in world oil prices resulted in Algerian social unrest during the 1980s; by the end of the decade, Bendjedid introduced a multi-party system.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
ALGIERS, Algeria (AP) — Algerian President Abdelmadjid Tebboune began a state visit to China on Monday, with both economic and diplomatic priorities as the North African nation looks to become ...
National flag of Algeria. Algeria is a country located in Africa along the Mediterranean coast. It is geographically the largest country in North Africa and has a population of approximately 42 million. Until the 1980s, Algeria enjoyed relative wealth after gaining independence from France in 1962 as its economy was buoyed by the booming price ...
However, the war for independence and its aftermath had severely disrupted Algeria's society and economy. In addition to the destruction of much of Algeria's infrastructure, an exodus of the upper-class French and European colons from Algeria deprived the country of most of its managers, civil servants, engineers, teachers, physicians, and ...
The war of national liberation and its aftermath severely disrupted Algeria's society and economy. In addition to the physical destruction, the exodus of the colons deprived the country of most of its managers, civil servants, engineers, teachers, physicians, and skilled workers — all occupations which colonial policy had prevented or ...
Algeria is receiving €108 million - €132 million under the European Neighbourhood Instrument. [6] Currently funds are being used to promote economic efficiency, economic governance, and economic diversification, as well as strengthening democracy and reducing pollution. [6] Algeria is a member of the Euro-Mediterranean Partnership.