Economists warn drastic action needed to help Algerian economic recovery


Economists are warning that large scale intervention is needed to rescue the Algerian economy from accruing huge foreign debt, following the double blow of COVID 19 and tumbling oil revenues.

The National Office of Statistics has reported a 3.9 percent fall in Gross Domestic Product in the first quarter of 2020 alone, with unemployment nearing 15%.

Finance Minister Aymen Benabderrahmane has estimated the losses of state-owned enterprises at over one and a quarter billion US dollars.



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