In 2018, Algeria’s economy grew by 2.3%, the ministry of finance indicated on January 24, 2019, in a release.
According to figures reported by Reuters, this growth was spurred by the rise of the average price of the oil barrel that rose to $72.43 in 2018 against $52.71 in 2017.
Despite a 4% growth in the non-oil sector, Algeria is still unable to reduce its dependency toward oil and gas that represent about 60% of its budget and 94% of exports revenues.
Let’s note that even though it is below the 4% expected by the government, the growth recorded by the country in 2018 is higher than the 1.4% recorded in 2017.
While the country which is a member of the Organization of Petroleum Exporting Countries (OPEP) is preparing for its presidential elections, authorities expect a 2.6% growth this year due to a drop in the energy revenues and a decrease of state expenditures by 1.5%.
Moutiou Adjibi Nourou
The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...
By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...
As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...
Non-bank institutional investors, though still a minority, are increasing their presence in the West...
Highlights: • $20 billion in investment pledged by Chinese firms for agriculture, mining, auto...
Solar photovoltaic costs rose slightly in 2024, marking a break in a decade-long downward trend. Rising prices of modules, logistics, and...
Mauritius plans to reach 60% renewable energy by 2030 but faces a looming 100 MW electricity deficit. The government calls for installation of a...
Asara aims to raise $25 million through a share placement to fund gold exploration in Guinea. The company will drill at Talico, Banan, and...
• Belgian investor Victoria Equity injected $6.2M loan, proposing share conversion that would dilute State control.• Minister Bussa urges matching...
Garamba National Park, located in the northeastern Democratic Republic of Congo, is one of Africa’s oldest and most iconic protected areas. Established in...
Perched in the rugged heights of the Djebel Nefoussa in northwestern Libya, Qasr Al Haji (also spelled Ghasr Al-Hajj) is a striking example of traditional...