Gulf Oil and Gas accountACCOUNT

Algeria has Capacity to Conduct Smooth Economic Transition

Source: Algeria Times 6/18/2016, Location: Africa

Share |
Algeria has the capacity to conduct a smooth economic transition but it should accelerate its economic diversification through reforms, said senior officials of the International Monetrary Fund (IMF) in an interview with APS.

"Algeria is facing a major economic crisis owing to the falling oil prices for over two years, and which is likely to continue. But when the oil shock began, the country was not poor," said the head of IMF Middle East and Central Asia Department, Jean-François Dauphin.

Dauphin is leading the IMF delegation on visit to Algeria to update the country's economic data and discuss various issues, especially means to improve the technical capacities of Algeria's financial institutions.

The IMF official said that the oil shock had a "rapid and strong" impact on public funds and external accounts, which have significantly declined.

In this regard, he added that the major challenge for Algeria is restoring the macroeconomic balances and reviewing its economic growth model in order to reduce dependence on energy sector and public expenditures.

To that end, he underlined the need to move towards more diversified growth driven by the private sector.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

Oil Field Services News in Algeria >>

Egypt >>  2/14/2018 - C-Kore Systems closed off an excellent 2017 with an installation/commissioning campaign for the Egyptian Atoll project in collaboration with Subsea 7’...
Egypt >>  2/12/2018 - BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East N...

Egypt >>  2/2/2018 - Petroleum Minister Tareq el Molla discussed in a meeting with CEO of Kuwait Petroleum Corporation (KPC) Nizar Mohammad Al Adsani ways of boosting bila...
Egypt >>  1/29/2018 - Yokogawa Electric Corporation announces that its subsidiary, Yokogawa Middle East & Africa B.S.C.(c), has received an order from the state-owned Egypt...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Algeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

More News

 

Oil & Gas Companies in Algeria >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.