Algeria unveils diversification plans

Algeria has unveiled plans to diversify its economy away from petroleum.
By Staff reporter 11 April 2017 0 25448

Algeria has unveiled plans to diversify its economy away from petroleum.

The government wants to shift the country’s focus to renewable energy, agriculture and industry. “The abruptness of the drop in oil prices has revealed the fragility of the economic system,” said the document. Algeria’s electricity, gas, water, rail transport and telecommunications sectors are all subsidised by the state.

Noureddine Bouterfa, Algeria’s energy minister, is in Brussels this week to discuss the renewal of long-term gas supply contracts with EU members, according to Reuters

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