Algeria Vacation Trips
Algeria Economy

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The fossil fuels energy sector is the backbone of Algeria's economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. The country ranks fourteenth in petroleum reserves, containing 11.8 billion barrels of proven oil reserves with estimates suggesting that the actual amount is even more. The U.S. Energy Information Administration reported that in 2005, Algeria had 160 trillion cubic feet of proven natural gas reserves, the eighth largest in the world.

Algeria’s financial and economic indicators improved during the mid-1990s, in part because of policy reforms supported by the International Monetary Fund and debt rescheduling from the Paris Club. Algeria’s finances in 2000 and 2001 benefited from an increase in oil prices and the government’s tight fiscal policy, leading to a large increase in the trade surplus, record highs in foreign exchange reserves, and reduction in foreign debt.

The government's continued efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector have had little success in reducing high unemployment and improving living standards, however. In 2001, the government signed an Association Treaty with the European Union that will eventually lower tariffs and increase trade. In March 2006, Russia agreed to erase $4.74 billion of Algeria's Soviet-era debt[46] during a visit by President Vladimir Putin to the country, the first by a Russian leader in half a century. In return, president Bouteflika agreed to buy $7.5 billion worth of combat planes, air-defense systems and other arms from Russia, according to the head of Russia's state arms exporter Rosoboronexport.

Algeria also decided in 2006 to pay off its full $8bn debt to the Paris Club group of rich creditor nations before schedule. This will reduce the Algerian foreign debt to less than $5bn in the end of 2006. The Paris Club said the move reflected Algeria's economic recovery in recent years.

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The importance of packing light

Many people do not realize how important packing light is to budget travel, but I can tell you from personal experience that it is very important. Trust me – if you over pack, you are much more likely to drop extra money on porters, luggage carts, taxis and all those other little costs that could be avoided if you just packed more sensibly. Even though those costs can seem insignificant, they can really add up, especially on a long, multiple city trip. More travel tips about The importance of packing light


Algeria, Africa - Algeria Hotels - Algeria Hotel & Suites - Algeria Travel

Algeria Travel Informations and Algeria Travel Guides
Algeria Etymology - Algeria Geography: Tropic of Cancer in the torrid zone - Algeria Politics
Algeria Foreign Relations & Military - Algeria Arab Maghreb Union - Algeria Provinces & Districts
Algeria Economy - Algeria Agriculture - Algeria Demographics: Ethnic groups - Languages - Algeria Religion
Algeria Health - Algeria Education - Algeria Culture & Sports
Algeria History: Ancient history - Middle Ages - Arrival of Islam - Ottoman rule - French rule
Post-independence
:Algerian political events(1991-2002) - Post war

Algeria UNESCO World Heritage Sites in Algeria
Algeria Tourism
Algeria Tourist Attractions: Cirta - Al Qal'a of Beni Hammad - Belzma National Park - Algiers
Hammam Guergour - Mostaganem - The Tassili du Hoggar - Timgad - Hippone - The Aures - Tebessa
Kabyl coast - Tiemcen - Djemila - Kasbah of Algiers (1992) - M'Zab Valley (1982) - Tipaza (1982)

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