Economy of Algeria

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The total labor force of Algeria is 12,106,190 people, wherein 10% of population in the country are unemployed. The total number of unemployed people in Algeria is 4,200,805.

Algeria is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Algeria may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Algeria exports about US$68.25 billion and imports about US$55.02 billion each year. 10% of the country's population is unemployed. The total number of unemployed in Algeria is 4,200,805. In Algeria, 23% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Algeria is quite high, but nothing to worry about in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 4.3% of GDP. The country's Gini index is 35.3. Algeria is experiencing good equality. The majority of citizens in Algeria fall within a narrow income bracket, although some cases can show significant differences. Algeria has a Human Development Index (HDI) of 717. Algeria has a very high HDI score. This suggests that almost all citizens are able to live a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to rise in society. The Global Peace Index (GPI) for Algeria is 2,131. The Strength Law Index for Algeria is 2. Overall, it is considered rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information, if any, is scarce and difficult to access.

Currency
The currency of Algeria is the Algerian dinar. The plural form of the word Algerian dinar is dinar. The symbol used for this currency is د.ج and is abbreviated as DZD. The Algerian dinar is divided into santeem; there are 100 in a dinar.

Credit rating
Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. No information is available on Algeria's creditworthiness.

Central bank
The prime rate of commercial banks in Algeria is 8. In Algeria, the institution that manages the state's currency, money supply and interest rates is called the Bank of Algeria. Locally, the Central Bank of Algeria is called بنك الجزائر. The average interest rate on deposits offered by local banks in Algeria is 1.8%.

National debt
Algeria has a public debt equal to 47.9% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate tax in Algeria is 23%. Personal income tax ranges from 0% to 35% depending on your specific situation and income level. The VAT in Algeria is 17%.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Algeria is $551.72 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Algeria was last recorded at $0 million. PPP in Algeria is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Algeria is 228 billion. Based on this statistic, Algeria is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Algeria was last recorded at $0 million. The average citizen in Algeria has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Algeria averaged 4% in 2014. According to this percentage, Algeria is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health.

 

 

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