Comment on Falling oil prices worry Algeria

Falling oil prices worry Algeria

Oil revenues make up 97 percent of the country's hard currency earnings and 60 percent of the government's budget. There has been little impetus for reform at the highest levels with much of policymaking on hold due to the president's fragile health. Since suffering from a stroke in 2013, Bouteflika has rarely appeared in public. According to the International Monetary Fund's latest report on Algeria, growth for 2014 is estimated to be a decent 4 percent. Social unrest, even before the scattered protests of the Arab Spring, was effectively bought off with higher wages and promises of housing — all funded by the bountiful oil receipts.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News