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Algeria’s budget revenues plunge, raising alarms over fiscal sustainability

Algeria’s public finances are under mounting pressure after a dramatic drop in budget revenues in 2024, driven by falling hydrocarbon income and sluggish non-oil tax collection, according to the Bank of Algeria’s. Total budget revenues fell by 22.66% year-on-year, with hydrocarbon revenues plunging by 31.13% and non-hydrocarbon revenues declining by 13.50%, the Bank said in […]

Plugging the leaks: AfDB urges action as Africa loses $580B annually

Africa is hemorrhaging over $580 billion every year through corruption and illicit financial outflows, according to the African Development Bank (AfDB), jeopardizing economic growth and worsening the continent’s nearly $2 trillion debt crisis. AfDB President Akinwumi Adesina, speaking in a recent Bloomberg interview, likened the situation to pouring water into a leaking bucket — “It […]

Egypt: Prison Sentences for three Army Officers for Attempt to Overthrow President

Three Egyptian army officers have been prosecuted and handed prison sentences ranging from 5 years to life in prison for plotting to overthrow President al-Sisi. The three officers, a naval Colonel and two infantrymen, were found guilty of plot against President al-Sisi by an Egyptian military court. London-based Qatari media “The New Arab” reports that […]