Algeria 'Controls' Economic Situation Despite Fall in Oil Prices

Source: Algeria Times 5/16/2016, Location: Africa

Algeria is on the "right track" and "controls" the situation, despite the fall in oil prices in the in international market, said in Algiers Prime Minister Abdelmalek Sellal.

"We are on the right track and our policy is clear," Sellal affirmed on the sidelines of the 17th International Show of Tourism and Travel (SITEV).

"In spite of decline in revenues, Algeria has not been affected and will not be," he said as a reply to some foreign officials' allegations, reported by some media, on the impact of oil price decline on the Algerian economy.

"The remarks made by foreign officials will not affect our policy and our work, and we will not accept any interference in our affairs," the Premier underlined, stressing the need for protecting the State institutions, the national unity and the stability of the country.

In the same regard, Sellal added that the situation caused by the fall in hydrocarbon prices has, in the contrary, pushed the government to review its economic model, by diversifying the national economy, citing the role of the company in development and wealth generation.

Explaining that the government encourages the creation of companies, he recalled that during the last three years, some 24,000 private companies have been created, i.e. 70% of what was created during the last decade.

This shows that "we are on the right track," Sellal insisted.

The prime minister emphasized the importance of tourism and the role it can play in the development and the diversification of the national economy.

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


Nigeria >>  6/28/2022 - It has been announced by Maire Tecnimont S.p.A. that its subsidiaries Tecnimont and Stamicarbon have received a number of new contracts and order vari...
Morocco >>  6/20/2022 - Chariot (CHAR) is happy to announce that it has signed a front-end engineering and design ("FEED") agreement ("Agreement") for the Anchois gas develop...

Egypt >>  6/6/2022 - Eng. Yehia Zaki, chairman of SCZONE, received today a British delegation from the British International Investment to discuss investment opportunities...
Egypt >>  6/1/2022 - The General Authority for Suez Canal Economic Zone (SCZONE) signed a memorandum of understanding with H2-Industries Inc. to build a new Waste-to-Hydro...

Egypt >>  5/30/2022 - Engineer Tarek Al Mulla, Minister of Petroleum and Mineral Resources, stressed the importance of the reform measures taken by the Egyptian state and t...
Egypt >>  5/1/2022 - General Osama Rabie, president of the Suez Canal Authority, announced on Sunday that the channel's navigation statistics during April recorded new and...

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  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.