Algeria

Ranked as the third most important economy in the MENA region, Algeria is one of a hand full of countries that have achieved 20% poverty reduction in the past two decades.

The country is located in Northern Africa, bordered by the the Mediterranean Sea in north, Tunisia in northeast, Libya in east, Morocco in west, Western Sahara, Mauritania, and Mali in southwest, and by Niger in the southeast. 

Hydrocarbons have long been the backbone of the economy, accounting for roughly 30% of GDP, 60% of budget revenues, and nearly 95% of export earnings. According to the World Bank, a strong recovery in hydrocarbon production and higher-than-expected public spending kept growth relatively buoyant in 2016 at 3.8%, despite low global oil prices. However, non-hydrocarbon growth decelerated, while inflation rose. Double-digit twin deficits remained, depleting fiscal savings. In the medium term, growth and the twin deficits are expected to decline sharply as the government implements fiscal consolidation. 

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