Introduction
According to the latest forecasts from the International Monetary Fund (IMF), Algeria has managed to climb among the top ten African countries in terms of GDP per capita for the year 2024. This performance can be explained by several factors, notably reforms. economic undertakings in recent years and better management of natural resources.
The keys to economic progress
The IMF report attributes this progression to several elements, including the diversification of the Algerian economy, which relies less on hydrocarbons. In 2024, GDP per capita in Algeria reached USD 4,500, marking an increase of 8% compared to 2023. This growth is also supported by an increase in foreign investment, particularly in the renewable energy and energy sectors. Agriculture.
Impact on society
This economic improvement resulted in a strengthening of the purchasing power of Algerians, with inflation controlled at around 2.5%. Household incomes increased, which boosted domestic consumption. However, challenges remain, particularly in terms of youth unemployment, which remains at 11%.
Conclusion
Algeria continues to position itself as a major economic player in Africa, with encouraging growth prospects for the years to come.
Key points:
Algeria’s GDP per capita in 2024: 4,500 USD.
Economic growth of 8% compared to 2023.
Inflation controlled at 2.5%.
