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Tunisia 6 | (93): Tunisia’s diverse, market-oriented economy has long been cited as a success story in Africa and the Middle East, but it faces an array of challenges following the 2011 revolution. During 2012 and 2013, security and political upheaval during transition led to a deterioration of the economy and resulted in several downgrades of Tunisia’s credit rating. The government faces challenges reassuring businesses and investors, bringing budget and current account deficits under control, shoring up the country’s financial system, bringing down high unemployment, and reducing economic disparities between the more developed coastal region and the impoverished interior. The GDP (PPP) of $11,896.99 rank the country at number 93 in the world.
Egypt 7 | (96): Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Primary exports are crude oil and petroleum products, fruits and vegetables, cotton, textiles, metal products, chemicals and processed food. In January 2014, voters approved a new constitution by referendum and in May 2014 elected Abdel Fattah Al SISI president. Egypt elected a new legislature in December 2015, the first parliament since 2012. The country’s GDP (PPP) of $11,443.89 rank it number 96 in the world.
Angola 8 | (107): Angola President DOS SANTOS pushed through a new constitution in 2010; elections held in 2012 saw him installed as president. Angola assumed a nonpermanent seat on the UN Security Council for the 2015-16 term. Angola’s economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country’s exports. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country’s food is still imported. The country’s GDP (PPP) of $8573.33 rank it 107 in the world.
Morocco 9 | (114): In November 2011, the Justice and Development Party – a moderate Islamist party – won the largest number of seats in parliamentary elections, becoming the first Islamist party to lead the Moroccan Government. Morocco has capitalized on its proximity to Europe and relatively low labor costs to build a diverse, open, market-oriented economy. In 2014, Morocco ended subsidies on diesel, gasoline, and fuel oil which have improved its budget deficit. Subsidies on sugar, butane gas, and flour remain. Key economic challenges for Morocco include reforming the education system and the judiciary, while increasing the competitiveness of the private sector. The country’s GDP (PPP) of $8573.33 rank it 107 in the world.
Democratic Republic of the Congo: 10 | (121): Democratic Republic of the Congo (D.R.C.) is one of Africa’s largest petroleum producers, but with declining production it will need new offshore oil finds to sustain its oil earnings over the long term. The economy is a mixture of subsistence farming and hunting, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity. The recent drop in oil prices has forced the government to cut more than $1 billion in planned spending. With a GDP (PPP) of $7,038.16 the country ranks 121 in the world.
WAIT! We have one bonus country. Number 11 is..
Nigeria 11 | (124) : The 2015 election is considered the most well run in Nigeria since the return to civilian rule, with the umbrella opposition party, the All Progressives Congress, defeating the long-ruling Peoples Democratic Party that had governed since 1999. Following an April 2014 statistical “rebasing” exercise, Nigeria has emerged as Africa’s largest economy, with 2014 GDP estimated at US$479 billion. Oil has been a dominant source of government revenues since the 1970s. Regulatory constraints and security risks have limited new investment in oil and natural gas, and Nigeria’s oil production contracted in 2012 and 2013. The GDP (PPP) of $6,467.23 rand the country at number 124 in the world.
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