Algeria's President Abdelaziz Bouteflika was sworn in for a fourth term in 2014 (photo: dpa)

Algeria’s challenge is to reform and diversify its economy

Algeria has experienced development problems since its independence from France in 1962, despite its wealth of natural resources. Oil and gas have turned into a 'resource curse' which has enabled a closed, crony system in power to extract rents at the expense of the majority of the population, who are denied economic freedom and opportunities. Many see the current fall of oil prices, and its impact on the rent economy, as an opportunity to finally open up the country and diversify its economy.

ALGERIA, sitting on gas and oil resources in North Africa, has become a regional power. But despite its natural wealth, the majority of its population has no access to development. The economy ...

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Dr. Emmanuel Martin
The government ‘bought’ social peace by providing greater subsidies in food, especially cooking oil and sugar - costing up to 18 per cent of GDP - and by providing more public jobs
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