Algeria Experts: Corruption and lack of transparency prevent investments in Algeria
A symposium on "Algeria's economy during 50 years", which focused on hydrocarbons, agriculture, industry and taxation system, in cooperation with the faculties of economic sciences and management at Algiers University 3 examined the need to diversify Algeria's economy away from its dependence on hydrocarbons.
Source : https://www.marocafrik.com/english/Algeria-Experts...
Economist and former minister Omar Sakhri said that the root cause of this dependence on hydrocarbons and the failure to diversify went back forty years with a failure to build a diversified economy thus leaving the economy vulnerable to oil price fluctuations.The main reason for the reluctance of foreign investments in Algeria is corruption, lack of transparency and instability of the economic legislation", the website of Echorouk reported.
The economist Sheikha Belkacem Khalifa, a specialist in the economics of energy also pointed to the long term failure of Algerian economic planners to diversify the economy pointing to Algeria's advantages in terms of energy
which is competitively priced and could be exported and the proximity of Europe.Algeria had moved from colonial dependency to oil dependency, the economist said.
The economist Sheikha Belkacem Khalifa, a specialist in the economics of energy also pointed to the long term failure of Algerian economic planners to diversify the economy pointing to Algeria's advantages in terms of energy
which is competitively priced and could be exported and the proximity of Europe.Algeria had moved from colonial dependency to oil dependency, the economist said.
Source : https://www.marocafrik.com/english/Algeria-Experts...