While dreaming of becoming the pan-African gas hub and unseating the leadership of Egypt and Libya in North Africa, the country today is in dire trouble.
Last February, the second largest shopping centre in the Magreb opened in Alge- ria: 45,000m² of shops, bars, restaurants (even a skating rink), all in Sétif, a city of just 290,000, east of Algiers. Unsurprisingly, Algerian giant Prombati was behind the large in- vestment. In a 2012 report, Deloitte included Algeria among the five African nations with the largest mid- dle class relative to its overall popu- lation. And over the last ten years, the annual per capita Algerian wage (based on purchasing power parity) has continued to grow, from 11,400 dollars (€10,316) in 2006 to almost 15,000 dollars (€13,574) this year, according to IMF figures.
Algeria also continues to enjoy fairly sound security, despite being surrounded by countries that are swarming with terrorist organisations. Foremost among them is Mali, where Al-Qaeda in the Islamic Maghreb (AQMI) is wreaking havoc, along with other jihadi groups. And there is also Libya to the east, where the situation remains chaotic and potentially explosive.
But even among the bright lights, there are also a few dark corners in Algeria. Behind the confident con- sumer outlooks and apparent stability, the country may be tottering on the brink of disaster. President Abdelaziz Bouteflika, in power since 1999, is seriously ill. Only a chosen few are fully aware of the state of his health, a fact which has been generating ru- mours and a deepening anxiety. Some say he is still clear-minded, leading the government by sending messages to his ministers. Others believe him to be alive but out of commission. All that is known is that last July, during his first public appearance in two years, Bouteflika looked very weak and frail.
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While dreaming of becoming the pan-African gas hub and unseating the leadership of Egypt and Libya in North Africa, the country today is in dire trouble.
Last February, the second largest shopping centre in the Magreb opened in Alge- ria: 45,000m² of shops, bars, restaurants (even a skating rink), all in Sétif, a city of just 290,000, east of Algiers. Unsurprisingly, Algerian giant Prombati was behind the large in- vestment. In a 2012 report, Deloitte included Algeria among the five African nations with the largest mid- dle class relative to its overall popu- lation. And over the last ten years, the annual per capita Algerian wage (based on purchasing power parity) has continued to grow, from 11,400 dollars (€10,316) in 2006 to almost 15,000 dollars (€13,574) this year, according to IMF figures.
