“Forbes” survey reveals: Algeria is lagging behind in the business world

A report released by the economic magazine “Forbes” on business environment of the year 2008, ranks Algeria at the 88 position worldwide and 9 in the Arab world after Tunisia and Morocco, recording a throw back in comparison with last year.

• The survey which includes 125 countries, wound up with ac conclusion that the Algerian economy is moving slowly due to bureaucratic practices and widespread corruption.
• The report released by the US magazine, show that the growth index reached 4.6 percent and the GDP per capita was estimated at $ 8,100, whereas the efforts deployed by the government to diversify its economy apart from the hydrocarbons didn’t curb unemployment and succeed to improve the cost of living.
• The survey explained this situation by the fact that the Algerian economy is still mainly based on Hydrocarbons which account for more than 95 percent of the total incomes. The report added that the financial embellishment, a direct consequence of soaring oil prices, has contributed to stabilizing the macro –economic indexes as well the write-off of the debt in Paris and London clubs    
• The 2008 report revealed some reshuffle in comparison to the previous one, Denmark for instance tops the list of the countries moving from the fourth to the first position leaving the United States behind in the fourth place.