The economy of Algeria leaves a crisis status.
The economy of Algeria leaves a crisis status.
Last years Algeria has managed to achieve improvement almost all
Economic indicators that proves to be true, in particular,
Mentioned below data:
1995 1996
Gross national product in the current prices (billion is scarlet. Dynes.) 1961 2484
Gain of real gross national product (%) 4,3 5,5
Rate of inflation in the end of a year (%) 21,9 15,1
Increase in the prices at consumer goods (%) 29,8 20,0
Rate of unemployment (%) 28,1 28,0
Export to the prices fob (bln. dollars) 10,26 13,67
Import to the prices fob (bln. dollars) 10,20 12,40
Negative balance of balance of movement of capitals (billion
Dollars) 4,1 3,3
Deficiency of the balance of payments on current operations (billion
Dollars) 2,31 1,04
Budgetary deficiency concerning gross national products (%) 1,4 4,4
Currency reserves without gold (mln. dollars) 2005 4235
External debt (bln. dollars) 32,31 32,47
Service factor п?п?п пЁп 1) (%) 41,0 28,5
Oil recovery (thousand barr./days) 760,0 820,0
Extraction of natural gas (billion cubic) 150,0 175,0
Mid-annual rate of national currency (it is scarlet. Dynes. To 1
Dollars) 47,66 54,75
__________.
1) Percentage payments and amortisation of the basic sum in the relation to
To receipts on export (critical level - 25 %).
In 1998, as well as in 1997, a gain of gross national product of Algeria
It is predicted in 5 % that is one of the highest
Indicators on continent. Positive influence will render growth
In the oil and gas industry, agriculture,
Building and sphere of services. Though the prices on "saharskuju" oil on
To comparison with the beginning of 1997 have gone down (to 20 dollars/barr.), the general
Incomes of oil and gas sector raise. Budgetary reference points
For a petroleum industry (in the budget the price for oil is put in pawn -
17,5 dollars/barr.) have appeared rather close to the truth.
Plentiful deposits in the beginning of 1997 and system liberalisation
Land tenure promoted growth of the agricultural
Manufactures. Export (basically consists of oil, natural
Gas and an oil condensate) should increase to 13 bln. dollars
In 1997 and to 13,2 billion in 1998, import (purchases dominate
The foodstuffs, the oil and power equipment) -
Accordingly to 12,6 billion and 13 billion Stagnation not oil
Export it is gradually overcome, the truth, its essential
The gain last year in many respects speaks commodity deliveries
To Russia on account of debts repayment. As a whole annual payments
Within the limits of amortisation of an external debt thanks to re-structuring
Have considerably decreased. Though Algeria reduces import of services, payment
The balance on current operations in 1997 will be shown with deficiency in
The size 1,8 bln. dollars (the forecast for 1998 - 2 bln. dollars).
Deficiency is planned and in budgetary sphere: the State expenditure
Current year are defined in 914,1 billion it is scarlet. Dynes., and incomes - in
829,4 billion should bring New tax to the real estate to treasury
In addition 400 million is scarlet. Dynes. And partially to compensate
Decrease in the VAT for the companies (to 7 %; VAT revision is directed on
Stimulation neneftjanoj). Position in
Public finances the government is aggravated with that
It is compelled to direct the large means which are not switched on in the budget, on
Support of the unprofitable enterprises (in 1997 100 billion it is scarlet. Dynes. In
The core for 15 large factories and factories and, first of all, for
The metallurgical giant "Sider"). Privatisation in the country
It is spent slowly and does not give expected results. It is saved
Considerable public sector, payment in which it is frequent
It is carried out with the big delay.
The Algerian economy in essence consists of two basic parts -
Prospering (extraction and oil refining and gas) and being in
Crisis status (the majority of branches of the processing
The industries). The first, as well as in many other things oil-extracting
The countries, promotes the decision of problems of the second.
In spite of the fact that extraction on some new deposits
Some oil yet does not reach greatest possible, and installations on
szhizheniju gas work not on full capacity, export
Hydrocarbonic raw materials in 1996 has increased by 29 % - to 12,5 billion
Dollars (9,7 billion in 1995). Algeria has headed the list of the countries, in
Which for last two years are revealed the largest stocks
Hydrocarbonic raw materials. ANDR possesses the huge unexploited
Stocks of natural gas. The first stage of a construction is finished
Gas pipeline Maghrib - Europe also is expanded Transmediterranean
Gas pipeline. In the nearest 3 - 5 years Algeria can is essential
To increase the incomes of operation of hydrocarbonic raw materials in
Communications with opening of new deposits by companies "Agip" and "LL and E" and
Extraction expansion on the deposits maintained "British
Petroleum "," Atlantic Richfield "," Total "," Repsol "," Cespa "and
Other manufacture In 1997 of hydrocarbonic raw materials in Algeria should
To increase by 5 %, and in 1998 - on 4 %. If it will be possible to find
Buyers of extracted raw materials large projects also will be realised
In gas sector (in particular, "BP's South West District III"),
That, revenues of Algeria of an oil recovery and gas will increase to 16
Bln. dollars by 2000 and 20 billion in the beginning of next century.
Large problem in considered branches is preservation
The big dependence on fluctuation of the world prices and from
Internal political conjuncture. Till now oil and gas sector
Has not suffered almost from opposition of the governmental forces and
Religious extremists. The international oil monopolies
Operate basically around Sahara and are actually protected from
Possible political conflicts in the country.
Gross national product gain in not oil sector last year has made 3,3 %, but
And this modest result will reach basically thanking
To favorable weather conditions, and also kommertsializatsii
Industrial and distribjutorskoj activity. In the present
Time portfolios of orders for the various technics quickly grow -
From home appliances to buses and lorries. The basic
The emphasis in not oil sector becomes on attraction
Capital investments from abroad. However volume of straight lines foreign
Investments into Algeria (excepting an oil and gas complex) remains
The low. At the same time the message on corporation "Daewoo" intention
To enclose 2 bln. dollars in development of the Algerian economy (in
Autoassemblage, manufacture of TVs and building of hotels)
It is estimated by economists as the beginning of return of the largest
Foreign investors to Algeria. Till now privatisation,
Initiated by the government, and structural transformations
Led basically to closing of the enterprises. Now reforms
Actually receive so necessary material support.
The approach of foreign investors to cooperation with Algeria has
The specificity. The joint venture with the local state is usually created
The enterprise on purpose to modernise the existing
Capacities. So, German "MAN" creates the joint venture with
Local "SNVI" on manufacture for the Algerian companies of buses,
Which quality should not concede let out in Germany.
Affiliated company "MAN", having revealed an unoccupied niche on the Algerian
The market, is going to start manufacture of washing machines. For
Investors there are considerable privileges, first of all in area
The taxation, however the basic rate the foreign companies
Do on average use on a market capacity and advantages,
Appeared in Algeria as a result of economic and trading
Liberalisations. So, British company "Boss" was involved with decrease
Duties for import of details and sites for assembly manufacture and
Presence in ANDR the unique enterprise in Maghrib on release
vilochnyh loaders. Firm "SNMM" becomes its partner in the joint venture.
The important feature of tactics of investors is the aspiration to
Risk minimisation: "MAN" in the beginning forms a portfolio of orders and
Only then starts manufacture. Joint venture "Boss" pays
vilochnye freight elevators only after assemblage by the local partner in
Conformity with standards. Initial investments it is frequent
Happen insignificant. After studying of features of the market on
To practice the decision on expansion can be accepted
Capital investments.
In days of national economy crisis many foreign companies
deinvestirovali the capital, however were also such, which
Remained in Algeria and, having gone through time difficulties, in the present
Time successfully extend. So, German "Thyssen", many years
Delivering on the Algerian market of a pipe and a wire, namerena
To expand the presence by building of the warehouse
Premises and distribjutorskogo the centre.
While the majority of foreign investors prefer to import in
Algeria the basic part of the cars used in the country completing,
Auxiliary materials. At the same time government ANDR
Achieves increase in the contribution of the Algerian party in release of the ready
Production. But for foreign businessmen solving remain
Economic, instead of political reasons. For example, successful
Monopolism overcoming in pharmaceutical branch, development
Competitive struggle at different stages of manufacture and
Finished goods distributions obviously stimulated inflow
The capital from abroad. In ANDR, as in one other African
To the country, the system of social security, which is developed among
The other is provided with access almost all population to inexpensive
To medicines. Considering such conditions, "Rhone-Poulenc Rohrer"
Has signed the agreement on granting of licences and the organisation of the joint venture with
State company "Saidal". Manufacture of medicines of the new
Generations will begin in 1998 the decision "RPR" Is remarkable with
Time to create in Algeria division on carrying out of research and development with
The account of requirements of the local market. Suspended since 1991
Project realisation on the organisation in the country of release of penicillin
It is renewed by forces of a consortium with participation British "SmithKline
Beecham ", French"Sanofi", Austrian"Biochemie",
Algerian "Moustapha Ait Adjedjou". The under construction enterprise will be
To satisfy 2/3 requirements of the country, and with conditions improvement
In Algeria can extend.
Vital issue for Algeria there is an organisation reliable
Supply by water. For its improvement in east and western areas
IBRD countries were allocated with the large credit in 350 mln. dollars Is planned to
2004 to increase mid-annual manufacture of water to 149 million
Cubic m, however its considerable losses in zone Gargar and Mexanna
(Reach 40 % of manufacture) can break the governmental
Plans. The industrial enterprises at the western coast enter in
The system is maintained also by independent sources of water supply for
Easings of a problem of shortage of water which makes in the present
Time approximately 30 % of requirements. Predictably, deficiency of water in
Annaba at east coast will increase from 10 % now
To 30 % in 2003 the Decision of problems with maintenance with water is braked
Absence of reliable financing of corresponding projects.
The government plans partial privatisation of a water management.
In this branch and in a number of other branches the Russian companies could
To render the essential help, especially during the modern period,
When incomes of Algeria grow. By means of the former USSR in the country
Tens enterprises of the public sector, many are constructed from
Which have nowadays not the best times. On African
Continent Algeria is one of the largest trading partners
Russia (mutual goods turnover in 1996 has made 128 mln. dollars),
However, the Russian-Algerian communications in comparison with the former
From time to time essentially oslabli.
//* an information Source: BIKI, 29.11.97
//* Reg. Nom. - 6071100253.05-------------------------------------------
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