ECONOMY


Algeria adopts "courageous" economic policies

APS - 27 July 2020

ORAN- Algerian international economic expert and former stock market analyst at Swedish banks, Noureddine Legheliel said Monday that Algeria has adopted "courageous" economic policies at the political level, especially in the face of the global economic situation due to the repercussions of the Covid-19 pandemic.

ORAN- Algerian international economic expert and former stock market analyst at Swedish banks, Noureddine Legheliel said Monday that Algeria has adopted "courageous" economic policies at the political level, especially in the face of the global economic situation due to the repercussions of the Covid-19 pandemic.

Speaking to APS, the expert said that the global health crisis has caused economic chaos, affecting all countries in the world.
"Algeria is one of the countries that have quickly resorted to courageous economic options and reforms at the political level to face this serious situation," said the expert.

"Despite decades of delay in the country's economic recovery, Algeria has just adopted a number of measures to be welcomed. First of all, a policy for rationalizing public expenditure must be put in place in order to secure foreign exchange reserves in the face of the State's obligations towards the socio-economic sector, which has been hard hit by the repercussions of the global health crisis, the courageous decision to relaunch mining investment and avoid external debt," he added.

This dynamic reflects a real and courageous political will and a vision of effective management to minimize the impact of the economic situation caused by the pandemic, recommending to move forward and effectively fight against all the after-effects of bureaucracy, said Legheliel.

"Tackling the long-standing phenomena in the national economic landscape is not only a necessity, but an imperative solution in these hard times, dictating the need to put an end to the plethora of employees in public enterprises, without this leading to mass unemployment and poverty," he said.

"The management of an economy is a matter of managing parameters and indicators and Algeria seems to be in this logic," concluded the international expert who has contributed significantly in international analyses on stock market and oil issues.