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  1. #1
    FORTUNATO is offline Registered User
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    http://www.middle-east-online.com/en...ness/?id=12090

    Algeria announces $50 billion development plan


    Algerian PM says all conditions are right for steady economic growth in coming five years.


    ALGIERS - Algerian Prime Minister Ahmed Ouyahia on Wednesday announced a 50 billion dollar (37.5 billion euro) economic development plan over the next five years.

    Speaking at a meeting of the north African country's National Economic and Social Council (CNES), Ouyahia said "all conditions are right for steady economic growth in the coming five years."

    However, the prime minister also called for reforms in the financial sector, currently hampered by "reluctance on the part of banks to make investment loans", rather than relying on tax revenues from state-owned companies.

    Algeria will have to "meet the challenge to make improvements in the delivery of services" if the country wants to join the World Trade Organisation within the five-year period and also implement finance and development agreements reached with the European Union, he said.

    Investment in development over the past five years totalled some 28 billion dollars.

    The country derives more than 96 percent of income from its oil and gas production and is currently benefitting from high oil prices.

    CNES president Mohamed Salah Mentouri warned that this "highlights the need to rationalise budget decisions and show greater efficiency in public expenditure, notably by addressing mounting demands for social improvements which have for so long been delayed."

    Mentouri said the economy "is doing better" but "it is still not doing well."

    Rejecting "the logic of the short term", he said Algeria "needs economic and social treatments which are both urgent and appropriate to a long-term outlook."

    For all Algeria's wealth in petroleum products, economic hardships, inadequate housing and unemployment remain major problems - factors that played into the hands of Islamic extremists who launched a guerrilla insurgency in 1992.

    "Important needs are awaiting appropriate treatment," Mentouri said, adding that the "consolidation of the macro-economic balance shelters our economy for a while from outside shocks, but it does not make the risks go away."

    F.
    A government that robs Peter to pay Paul can always depend on the support of Paul.
    By: George Bernard Shaw

  2. #2
    HeWhoDaresWins is offline Registered User
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    Arrow do you have growth details

    hey there, do yu have the growth details forecasted year by year?. or details of where i can get the speech.

    thanks in advance

  3. #3
    FORTUNATO is offline Registered User
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    Re: do you have growth details

    Originally posted by HeWhoDaresWins
    hey there, do yu have the growth details forecasted year by year?. or details of where i can get the speech.

    thanks in advance
    Saha HWDW

    I understood that the 50b is on 5 years period with 10b per annum, equaly devided on each department!!!

    where you coud get more information?

    probably you could link to:
    http://www.cnes.dz/

    You can also connect to ministrey of finance

    or more information in French from http://www.jeuneafrique.com/gabarits...14lamthfetuob0

    Ce dernier point est évidemment capital. Il s'agit d'un programme quinquennal (2005-2009) d'investissements publics d'un montant de 50 milliards de dollars, censé permettre de rattraper le retard accumulé par l'économie algérienne depuis un quart de siècle. Le chef de l'État vise un taux de croissance annuelle de 7 %, en moyenne. C'est, selon lui, le seul moyen de lutter efficacement contre le chômage - en créant deux millions d'emplois -, la pauvreté et les multiples carences du pays en matière d'habitat (un million de logements à réaliser), de santé (quarante-huit centres hospitalo-universitaires à construire ou à rénover) et d'infrastructures de base (barrages, routes et voies ferrées). L'aisance financière dont bénéficie actuellement l'Algérie (42 milliards de dollars de réserves de change à la fin 2004, selon le dernier rapport du Fonds monétaire international) autorise à penser que le Trésor public n'aura guère de mal à mobiliser annuellement 10 milliards de dollars. Voire 12 milliards, comme le souhaite Abdelatif Benachenhou, le ministre des Finances, ce qui supposerait que l'enveloppe globale du Plan soit portée à 60 milliards de dollars. Il serait certes préférable que les autorités n'aient pas à puiser dans cette « cagnotte », mais la frilosité des investisseurs étrangers (le « risque-pays », tel que l'évaluent les agences de notation occidentales, reste très élevé) et les retards accumulés dans la mise en oeuvre de la réforme du secteur financier ne leur laissent pas le choix. « Tous ceux qui connaissent le président savent qu'il n'est pas homme à engager l'argent des contribuables dans n'importe quoi, explique notre interlocuteur. C'est pourquoi le contenu exact du Plan n'a pas été rendu public. » Et pour cause : des retouches sont apparues nécessaires.


    Take care kho..
    F.

    A government that robs Peter to pay Paul can always depend on the support of Paul.
    By: George Bernard Shaw

  4. #4
    Lotfi-dk is offline Guest
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    Algeria is really getting richer, I mean you need to have a lot of money to think about a 50 billion development plan,,,

    thanks for the info

  5. #5
    TabassRassou's Avatar
    TabassRassou is offline Quarantined Users
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    Algeria should start to think about becoming less dependent on Hydrocarbons export.

    MrMean

  6. #6
    Boualem-DZ is offline Senior Member
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    Absolutly right khouya TabassRassou, we need to make petrol a contributing factor and not a exclusive factor to the development of our economy.

    I would like to point out one thing though, The economical recovery in my oppinion is not exclusivly because of the raise in oil prices. I think without the expertise and dedication of key people within the ministries and some civil-servants, this recovery would be inimaginable.

    Remeber we went through Debt re-scheduling and had to go through the FMI "plans". As far as I know no country at the time algeria signed up with FMI had ever managed to recover from the reforms imposed by the FMI. Algeria I think is the only such example. To top that we had more than a decade of terrorism and other post-socialism criminal activities. It was said once that the "black decade" costed us more than 24 Billion USD in dammages and "manque à gagner".

    If we didn't have people who planned and planned right the negociations and conditions with FMI, we would today be seeing the most part of the 50$/baril go to the Club de Paris and other debt holders, just to recover the "fee" of our loan.

    It is therefore that I am reluctent to descridit all algerians within our gov. For sure one of them must have done something right? otherwise how do we explain the 40 Billion$+ benefit in the reserves?

    I mean all of us know what the gov does wrong, but we (the population) never reward or at least acknowledge the individuals who actually do do something right.

  7. #7
    FORTUNATO is offline Registered User
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    Originally posted by Boualem-DZ
    Absolutly right khouya TabassRassou, we need to make petrol a contributing factor and not a exclusive factor to the development of our economy.

    I would like to point out one thing though, The economical recovery in my oppinion is not exclusivly because of the raise in oil prices. I think without the expertise and dedication of key people within the ministries and some civil-servants, this recovery would be inimaginable.

    Remeber we went through Debt re-scheduling and had to go through the FMI "plans". As far as I know no country at the time algeria signed up with FMI had ever managed to recover from the reforms imposed by the FMI. Algeria I think is the only such example. To top that we had more than a decade of terrorism and other post-socialism criminal activities. It was said once that the "black decade" costed us more than 24 Billion USD in dammages and "manque à gagner".

    If we didn't have people who planned and planned right the negociations and conditions with FMI, we would today be seeing the most part of the 50$/baril go to the Club de Paris and other debt holders, just to recover the "fee" of our loan.

    It is therefore that I am reluctent to descridit all algerians within our gov. For sure one of them must have done something right? otherwise how do we explain the 40 Billion$+ benefit in the reserves?

    I mean all of us know what the gov does wrong, but we (the population) never reward or at least acknowledge the individuals who actually do do something right.
    Saha Boualem

    Bravo, the carrote and the stick.., I understood that there was more than 40 billions dammage dudring the 10 years crazy "sabatage" i assume it maybe even double, + 300000 highly qualified ppl left the country, and imagine the gvt manage to amke some "BROCOLAGE" and get it right

    F-
    A government that robs Peter to pay Paul can always depend on the support of Paul.
    By: George Bernard Shaw

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