Algerian president inflates non-oil export figures to hide diversification failure

Algerian president inflates non-oil export figures to hide diversification failure

The manipulation of figures by the Algerian president continues unashamedly as he inflates non-oil and non-gas exports to project a false impression of an economy that is diversifying away from hydrocarbons.

Speaking to a bunch of sycophant editors in chief few days ago, Tebboune said his country’s exports- not including gas and oil- grew to 7 billion dollars, compared to 1.2 billion few years ago.

However, Algeria’s statistics agency mentions only 6 billion dollars in non-hydrocarbons exports and 61 of gas and oil bonanza.

Yet, Algeria’s statistics agency included in the non-hydrocarbons export category oil and gas derivatives such as chemicals exports, which totaled 3.6 billion dollars.

Such chemicals exports are impossible to make without oil and gas and therefore they should have been included in the derivatives category.

Genuine non-hydrocarbons exports are on the decline. Consider food and farm products sales which more than halved to 26 million dollars last year from 50 million in 2021.

Machines exports stood at only 10 million dollars, that is more than a 50% drop.

Altogether, manufactured products exports stood at merely 1.7 billion dollars, indicating Algeria’s resource curse or its heavy dependence more than ever on underground resources.

Tebboune cannot hide the sun with a finger as his country fails under an inefficient leadership to wean itself from dependence on hydrocarbons whose prices are faltering once again as the global market regains balance.

Denial of reality is pushing the Algerian regime to manipulate figures as Algerians suffer inflation, lack of goods, queues and rationing as well as rampant unemployment.

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