Arab Today, arab today algeria denies implementing austerity over oil prices plunge
Last Updated : GMT 23:49:03
Arab Today, arab today
Arab Today, arab today

Algeria denies implementing austerity over oil prices plunge

Arab Today, arab today

Arab Today, arab today Algeria denies implementing austerity over oil prices plunge

Algeria PM Abdelmalek Sellal
Algiers - XINHUA

Algeria Prime Minister Abdelmalek Sellal said Saturday the government has adopted a policy of rationalizing public spending rather than austerity to face the plunging oil prices.

"The government has drawn up a policy meant to rationalize public spending," Sellal told reporters on the margins of a visit he paid to a local smart card manufacturing unit, on the eastern suburbs of Algiers.

The Prime Minister noted that oil price decline in the global market is "an opportunity to switch the economic policy of the country to get out of oil dependency, and focus on developing local enterprises able to create wealth and job opportunities."

To do so, Sellal pledged "to encourage national competences, through lifting all bureaucratic obstacles to facilitate the creation of start-up projects."

Hydrocarbons account for 93.52 percent of the north African nation's total exports. It explicitly shows the full dependence of the nation on oil revenues to support national economy.

Oil prices witnessed spectacular drop, going from around 110 dollars a barrel in June 2014 to around 64 dollars nowadays. This unexpected scenario forced the government to froze several development projects to curb this unprecedented trade deficit in 17 years.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today algeria denies implementing austerity over oil prices plunge Arab Today, arab today algeria denies implementing austerity over oil prices plunge

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today algeria denies implementing austerity over oil prices plunge Arab Today, arab today algeria denies implementing austerity over oil prices plunge

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday