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Medium-term prospects suggest globalisation is set to continue
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Decades of growth in trade and foreign investment have seen global economies become more interconnected than ever before. This trend has been reinforced by the steady liberalisation of international trade and investment, at the bilateral, plurilateral and multilateral levels. National economic specialisations, and regional economic and political integration, have broadly proceeded in a single direction…

Overview

How well founded is the positive outlook of CEOs?
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With the import ban launched in 2016 having coincided with a drop in energy prices, in early 2018 Algeria started to rethink, with a view at improving the country’s finances and easing a challenging tax situation. In June 2018 Parliament duly approved a measure replacing the ban on certain products with Customs duties. The 2014-17 period saw the effectiveness of the import ban being called into…

Overview

Impacts of lower corporate tax rates on developed and developing economies
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Recent decades have seen a downward trend in corporate taxation, with headline corporate tax rates falling by 20 percentage points since the early 1980s. The average for advanced economies dipped to 22% in 2015, and investment incentives have further reduced effective rates for transnational corporations. After the 2007-08 global financial crisis, many countries had to slash spending and raise revenue…

Overview

Algeria expands its water infrastructure and natural gas network
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Despite being rich in fossil fuels, Algeria faces challenges in its utilities sector in terms of distribution and efficiency. While the provision of electricity is a non-issue – though sustainable generation notably is – the rate of household connections to the natural gas network is in need of improvement, especially outside major cities. Drinking water is largely secure, yet business needs are…

Overview

Algeria's industrial policy of small business creation and local integration
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The 2014 slowdown in oil prices revealed the vulnerability of Algeria’s economy, heavily reliant on hydrocarbons, and highlighted the need for a paradigm shift. The government sees the industrial sector as having the potential to drive diversification and reduce the import bill. In addition to heavy industrial subsectors, such as steel (see analysis) and cement, a number of other industries have…

Overview

Algeria aims to lower food import bill and attain self-sufficiency in key crops
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A number of driving forces are behind Algeria’s efforts to boost domestic agricultural output and cut the food import bill. First, the country is looking to diversify away from its dependence on hydrocarbons revenue, given fluctuating international oil prices; second, the population is forecast to rise by 25% to nearly 50m people by 2030, thus substantially increasing food demands; and third, Algeria…

Overview

Demographics and hydrocarbons invigorate Algeria's economic outlook
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Algeria’s population reached 42.3m by the end of 2018, making it the second-largest country in North Africa after Egypt, which surpassed 100m earlier in the year. With demographic growth of 1.7% in 2017, Algeria’s Ministry of Health expects that the population will reach 51m by 2030. The population remains relatively young, with a median age of 27.8 and 29.2% of residents under the age of 15. Life…

Overview

Reforms encourage recovery of Algeria's economy
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Under its constitution, which was last amended in 2016, Algeria is a semi-presidential republic, with a president acting as head of state and a prime minister acting as head of government. Elected for a five-year term, the president is empowered to appoint the prime minister and a council of ministers, following consultation with the parliamentary majority. While within this structure executive power…

Overview

Algeria's authorities tackle new issues in the banking sector
OBG
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The decision by authorities to embark on a programme of monetary financing towards the end of 2017 marked somewhat of a turnaround in a difficult year for Algeria’s banks. A competitive dynamic has remained in recent years, with no new entrants, exits, mergers, acquisitions or privatisations of note. In fact, early 2018 saw the government announce that it was backtracking on plans to float one or…

Overview

Algeria's favourable economic conditions support growth of insurance
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Following a muted performance in 2017 on the back of sluggish growth in the wider economy, market players in Algeria’s insurance industry anticipated that improved conditions in 2018 would support a sector recovery, a view partially borne out by the sector’s performance in the first half of 2018. A particular bright spot is the life segment. Although it accounts for just 10% of the overall sector…