Algeria: cabinet wants to reduce hydrocarbons' relevance

(ANSAmed) – NAPLES, JULY 29 – Algeria will implement a
government plan to reduce the weight of hydrocarbons on the
national economy, said the president ,
stressing that ”the richness of hydrocarbons is a blessing but
the absence of justice and the persistence of a spirit of
reliance have transformed this blessing into an evil. It is time
to convert this richness into a tool of development”.

The turning point comes during the crisis when
Algeria’s reliance on oil exports has exposed the country to
price fluctuations in the sector which represents nearly 96% of
exports, according to statistics.

The new program vies to lower the percentage of hydrocarbons
in the national economy by the end of 2021 and, in order to
succeed, the government wants to accelerate business investments
by helping the creation of small and medium-sized companies. The
government is also expected to focus on the agricultural sector.

”The economy of knowledge and intelligence – continued
Tebboune – is the basis of the project, especially Algeria which
hides a great richness that has not been exploited yet.

Unfortunately, a certain mentality has influenced the national
economy for decades to the point where we are now forced to
import vines, something which is unacceptable. The economy can’t
continue to rely on hydrocarbons, it is necessary to look for
alternative resources in which the human resource will be the
basis to kick start the economy”.(ANSAmed). (ANSA).

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