First Independent Mena Newspaper
Plummeting oil prices and dwindling revenues prompted the Algerian government to adopt austerity measures including tax hikes and subsidies cuts leading to protests, notably in the restive south and northeast of the country. Algeria, which has nurtured a system based on generous handouts to the population taking the form of subsidies to fuel, electricity, housing […]
Algeria’s “social model” known for its significant subsidy program is “unsustainable even if oil prices go up because we have a problem of price but also a problem of volume.” The statement was made by Abdelatif Benachenhou, former finance minister and economic adviser to President Abdealziz Bouteflika, who said that the state spends around $45billion […]