The country of Algeria has an economy that is dominated by the state, a legacy of the country’s socialist post-independence development model. The North African country has a population of approximately 43 million people (2020 est.) and a GDP Growth Rate of 1.40% (2019 est.). To provide the required quality of life for its masses, the Algerian economy has to grow at no less than 6% per annum. The economy in the last few years has hovered at growth rates of less than 2%. The government has halted the privatization of state-owned enterprises (SOEs) and has imposed restrictions on imports and foreign involvement in its economy. For the Algerian economy to grow, a stabilization of SOEs will be required. Oil and natural gas account for 95% of exports. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $173 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria’s external debt is extremely low at about 2% of GDP.