Join us virtually as we welcome Sharon Wardle, Her Majesty's Ambassador to Algeria on Thursday 22nd June from 10:20-11:20 BST.
The Algerian economy remains dominated by the oil and gas sector, which accounted for 19 percent of GDP, 93 percent of product exports, and 38 percent of budget revenues between 2016 and 2021. While the COVID-19-induced recession exacerbated growth challenges, the subsequent surge in hydrocarbon prices resulting from the global recovery and the war in Ukraine has generated a substantial rise in Algeria’s export and budget revenues. Over the past 15 years, however, declining investments contributed to stagnating oil and natural gas production, while rising domestic consumption has led to a steeper fall in export volumes.
After contracting by 5.1 % in 2020, Algeria’s GDP rebounded by 3.5 % in 2021, supported by a robust oil and gas output rebound
Algeria, like other oil-exporting countries across the MENA region, will need to shift toward a more diversified economy to lift job prospects in the country, which are crucial given its young demographic profile. Since 2020, the Government has taken steps to boost foreign and domestic investment by issuing a new Hydrocarbon Law, partly lifting restrictions on foreign ownership of domestic firms, and adopting a new Investment Law.
Sharon Wardle was appointed Her Majesty’s Ambassador to Algeria in 2021. Before this, Sharon was British High Commissioner to The Gambia.
Sharon joined the FCO in 1985, and has worked extensively across multiple areas including trade and counter terrorism, with postings across a broad spread of regions including Moscow, Beirut, UAE and Tunisia.