Algeria Crisis Intensifies As Export Earnings Collapse

Latest Algerian customs and oil data starkly illustrate the extent of the country’s economic meltdown and the challenge facing the country’s officials.

President Abdelaziz Bouteflika – who hasn’t been seen in public in four years, fueling rumors that he may no longer be running the show – has replaced a string of senior officials in recent weeks. Last week’s appointment of Noureddine Bouterfa as energy minister came just a year after his predecassor’s appointment (MEES 17 June). The two most senior economic officials – the finance minister and central bank chief – have also been replaced.

But, whoever is making the decisions, the scale of the challenge is daunting. (CONTINUED - 551 WORDS)

DATA INSIDE THIS ARTICLE

table Algeria Customs Figures ($Bn): Export Earnings Are Down By Over 60% Since 2014