August 9, 2020

Algeria economy rocked by one-two punch

Algiers (AFP) – Currency depreciation, inflation, negative growth, businesses closed: Algeria’s economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues.And unless remedial action is taken on a massive scale, a slide into foreign debt will become inevitable, economists warn.The National Office of Statistics (ONS) has reported a 3.9 percent fall in Gross Domestic Product (GDP) in the first quarter alone, with unemployment nearing 15 percent — “alarming” figures, according to Mansour Kedidir, associate professor at the Higher School of Economics in Oran…


Leave a Reply

Your email address will not be published. Required fields are marked *