See also:
» 11.03.2011 - Algeria protests risk losing momentum
» 17.02.2011 - Students keep Algeria protests warm
» 15.02.2011 - Call for massive renewed protests in Algeria
» 14.02.2011 - Algeria govt seeks to avoid mass protests
» 12.02.2011 - Saharawis at unease over Algeria, Morocco unrest
» 08.02.2011 - Large student protests in Algeria
» 03.02.2011 - "Algeria soon to lift state of emergency"
» 03.02.2011 - Algeria prepares protests despite govt threats











China wholesale online through DHgate.com


Houlihan's coupons


Finn autentiske matoppskrifter fra hele verden pĺ Verdensmat.no:
Gazpacho Břrek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bśuf bourguignon Korianderchutney Brenneslesuppe Proia Sćbsi kavurma Sardinske calamares


Autentiske matoppskrifter fra hele verden finner du pĺ Verdensmat.no:
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Řsterrike Romania Frankrike


Algeria
Politics | Economy - Development

Algeria "must reduce oil dependence" to avoid unrest

Algerian pro-democracy demonstrators in Marseille, France

© Marcovdz/Flickr/afrol News
afrol News, 27 January
- Algeria has avoided a rebellion like Tunisia and Egypt so far. But with youth unemployment exceeding 20 percent, government needs to differentiate its economy to avoid popular protest movement, IMF analysts indicate.

In an open-hearted interview, Joël Toujas-Bernaté, the mission chief of the International Monetary Fund (IMF) in Algeria, warns of "underlying tensions" that could lead to a similar development as in Tunisia - a popular uprising ousting the government.

Asked what impact the social unrest in neighbouring Tunisia could have on Algerians, Mr Toujas-Bernaté says "the two contexts are different from many standpoints - economically, politically, and socially."

"We saw unrest in Algeria earlier this month, triggered by significant price increases of basic food items - sugar and oil. But the authorities were able to take rapid measures to reduce these prices with the temporary elimination of custom duties and the value-added tax on those items," the IMF mission leader explains.

Nevertheless, Mr Toujas-Bernaté warns, "there are still some underlying tensions related to high unemployment among the youth. If there is the perception that the country's oil wealth is not benefiting all segments of the population, this could strain things further."

The IMF mission leader holds that Algeria must head towards economic reform and diversification to avoid further social unrest. "The Algerian economy is dominated by its oil and gas resources, which account for 98 percent of the country's exports. The hydrocarbon sector represents about 40–45 percent of total GDP and about two-thirds of budget revenues," he explains.

"Another key

Joël Toujas-Bernaté, IMF mission chief in Algeria

© IMF/afrol News
feature of the economy is the predominant role of the state. Ninety percent of the country's banks are public, the hydrocarbon company is state owned, and government spending represents two-thirds of non-hydrocarbon GDP," Mr Toujas-Bernaté adds.

He, in agreement with Algerian authorities, holds that the country's major challenge remains unemployment, which remains high, especially among the youth. "I should stress that Algeria has come a long way - a decade ago, youth unemployment exceeded 50 percent. Nevertheless, 21 percent unemployment among the young today remains very high."

Unemployment has been reduced through massive economic growth - mostly oil-driven - during the last decade. Demographic trends had "played an important role" in keeping the unemployment rate high. "The Algerian population is young and rapidly growing, so Algeria needs much higher growth to be able to absorb new entrants in the labour market," Mr Toujas-Bernaté holds.

"The labour force is growing between 2˝ to 3 percent per year. Just to stabilise unemployment and absorb all the new entrants, Algeria probably needs growth in the non-hydrocarbon sector of at least 5 percent," according to the IMF analyst's calculations.

Mr Toujas-Bernaté, in the interview conducted by 'IMF Survey', however emphasised that Algerian authorities were aware of and addressing the country's socio-economic problems, including seeking to diversify the economy.


- Create an e-mail alert for Algeria news
- Create an e-mail alert for Politics news
- Create an e-mail alert for Economy - Development news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com