will cost US$286 billion, 40% of which will go to human development. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $173 billion in foreign currency reserves and a large hydrocarbon stabilisation fund. In addition, Algeria's external debt is extremely low at about 2% of GDP. The economy remains very dependent on hydrocarbon wealth, and, despite high foreign exchange reserves (US$178 billion, equivalent to three years of imports), current expenditure growth makes Algeria's budget more vulnerable to the risk of prolonged lower hydrocarbon revenues. Algeria has not joined the WTO, despite several years of negotiations but is a member of the Greater Arab Free Trade Area and the African Continental Free Trade Area, and has an association agreement with the European Union Turkish direct investments have accelerated in Algeria, with total value reaching $5 billion. As of 2022, the number of Turkish companies present in Algeria has reached 1,400. In 2020, despite the pandemic, more than 130 Turkish companies were created in Algeria. Oil and natural resources Algeria, whose economy is reliant on petroleum, has been an OPEC member since 1969. Its crude oil production stands at around 1.1 million barrels/day, but it is also a major gas producer and exporter, with important links to Europe. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and 87.7% of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. The U.S. Energy Information Administration reported that in 2005, Algeria had of proven natural-gas reserves. It also ranks 16th in oil reserves. Non-hydrocarbon growth for 2011 was projected at 5%. To cope with social demands, the authorities raised expenditure, especially on basic food support, employment creation, support for SMEs, and higher salaries. High hydrocarbon prices have improved the current account and the already large international reserves position. Income from oil and gas rose in 2011 as a result of continuing high oil prices, though the trend in production volume is downwards. Production from the oil and gas sector in terms of volume, continues to decline, dropping from 43.2 million tonnes to 32 million tonnes between 2007 and 2011. Nevertheless, the sector accounted for 98% of the total volume of exports in 2011, against 48% in 1962, and 70% of budgetary receipts, or US$71.4 billion. The Algerian national oil company is Sonatrach, which