Have you heard?

[Yazou]

It was all my own work, akhi

You should be writing more often bro... not many have the gift (or talent if I may say).

[amalgamate]

You should write a book Khiyal, we'll support you on that

[gn4dz]

It will be an interesting book to read...did you think about it?...If it hasn’t already been done

[Bent_Bladi]

have u read "temple of a thousand suns"?

can u write my essay?



i'll pay you :|

[gn4dz]

lolll Bent

[Al-khiyal]

Algerians press government to spend record oil profits at home

May 30, 2008 -- Rising oil prices are opening the door to a long-awaited financial golden age for Algeria; with $110 billion of exchange reserves and more than $80 billion in oil revenue forecast for 2008 alone, Algeria’s state coffers have never been as full as they have been over the past two years.

"Algeria is not as rich as some imagine, at least not yet, but all the indications are that the price of a barrel will not fall below the 100 dollar mark over the second quarter due to constantly growing demand from the American market," explained oil expert Amar Khelifi. He noted, however, that Algeria is essentially a gas-producing country. "We only produce 1.5 million barrels [of oil] a day," Khelifi says.

The pressing issue right now for the government's financial advisors: how to find ways of investing this revenue instead of stockpiling it.

Former Prime Minister Abdessalem Belaid feels that Algeria must seriously think about laying the foundations of a production-based economy rather than remaining dependent on oil revenues. "It beggars belief that oil and gas generate 98% of the country's income," he said.

"I'm convinced that a fall in the price of a barrel will be catastrophic for the national economy," Belaid adds.

Economist Arslane Chickaoui pointed out that Algeria’s economy is based on the distribution of income and not on the creation of wealth. "If we continue along this route, our economy will remain on the sidelines compared with those of neighbouring countries", he told Magharebia.

Algeria can still become an active player in the world economy, provided that the right measures are taken, he said. Algeria should invest "to make up lost ground".

After suffering economic paralysis during the "black decade", Chickaoui continued, priority must now be given to "basic infrastructure, communications and telecommunications, so that [Algeria] will be attractive to foreign investors". It is also important to stimulate growth in the service sector, he added, noting that "the world’s largest economies are based on services".

The most important thing, he concluded, is to never to forget the oil crisis of the 1980's.

The leader of OPEC, however, doubts such a crisis could recur. Algerian Energy and Mining Minister and current OPEC president Chakib Khelil insists that "oil prices will remain high, barring a worldwide economic recession", given the "sustained growth in demand from major consumers and emerging countries, the continued devaluation of the dollar [and] the cutting-back of crude production in the largest non-OPEC producers such as Russia".

Despite Khelil's reassurance that Algerian revenue will continue to grow thanks to the international market, politician Ramdane Taâzibt of the Workers' Party agrees with Chickaoui that profits should be spent on Algeria now.

"This money, which belongs to the national community, must be used for the country’s development.... Reducing unemployment and saving the nation’s productive heritage are one of the main areas on which the government must concentrate," he told Magharebia.

The Islamist El Islah party voiced a similar argument in a statement issued on May 25th. "There is an urgent need to implement social policies best able to support purchasing power and to preserve citizens’ basic rights in life, such as work, care, housing and security, if we are to avoid a social explosion," the MRN statement said.

Algerian citizens also want the government to help improve their purchasing powers and ameliorate rising food costs.

"The State coffers are full, but our pockets are empty," said Tarek, a public sector worker with a family to support.