Algeria, the third largest gas producer in the world, is exploring ways to export 85 billion cubic meters per year over the next five years, against 62 billion cubic meters in 2009.

International Labour Organisation (ILO) predicts a 25% increase in unemployment in the MENA region in 2009 compared with 2007. A sombre outlook that could worsen if the global crisis deepens in the coming months.

Algerian oil company has granted oil and gas contracts to Japanese JGC Corp. and Swiss firm ABB. The contracts include the renovation of several oil and gas plants, and the creation of new ones.

Despite the global slowdown and new restrictive laws hitting foreign investors, the Algerian real estate sector lures more and more investment projects.

 Algerian Energy Minister declared that the construction of the Galsi pipeline will start in 2010. The 1,470 km-long pipeline will give Algeria the capacities to export up to 8bn metres of gas per year to Italy.

According to a study published in April 2009 by the UNCTAD, Middle East and North Africa countries have been relatively spared by the impact of the crisis compared with both developed and emerging countries worldwide.

Prime Minister Mr Ouyahia recently detailed the new youth-focused economic approach of the Algerian government. The government presents the battle against youth unemployment as a strategic step to permanently reduce illegal immigration towards Europe.

In its 2009 Global Investment Promotion Benchmarking, the World Bank takes good note of the improvements achieved by MENA  promotion organisations. The region still ranks second to last, ahead only of sub-Saharan Africa.

According to Standard & Poor's analysts, poorly linked to the international financial system, the banking sector in North Africa has not been exposed to toxic assets. Despite the global slowdown, North Africa is likely to avoid economic recession.

According to OPEC's secretary general, M. Abdullah al-Badri, the fall in oil prices prevent OPEC producers from investing in production, with 35 out of 165 projects put on hold until 2013.