Algeria investing in infrastructure, building for the future

 

Algeria is investing heavily in the country’s infrastructure and housing stock as part of a continuation of the state-funded programme to diversify the economy and strengthen social services.

  According to the latest IMF consultation statement based on meetings with government officials, the non-hydrocarbons sector’s contribution to Algeria’s GDP should increase by 5.5% this year, with the economy’s growth sustained to a large extent by state spending. A large portion of this spending will be directed towards projects that would benefit Algeria’s construction sector, which is also seeing an increasing number of foreign contractors vying for work in the market.

Under the country’s new five-year plan, which will run until the end of 2014, €111.3bn is to be spent improving infrastructure to support both the requirements of Algerian people and the economy. Among the key objectives of the programme are the creation of up to 3m jobs and the construction of 2m housing units, with the plan also envisioning large-scale investments to improve health, education and utilities servicesread more

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