Diversifying Algeria’s economy away from hydrocarbons

Detailed reports from both a group of business leaders and the International Monetary Fund (IMF) have outlined steps Algeria can take to diversify the economy away from hydrocarbons. Indeed, local policymakers and members of the private sector have long said that for Algeria to truly develop, it must aim to become less dependent on energy revenues, which remain a key contributor to the economy, Global Arab Network reports according to OBG.

According to the IMF, hydrocarbons revenues in 2011 accounted for around 40% of GDP, or some $189.3bn. It came as welcome news…read more

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