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.

Source link

About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free