Algeria presented its 2020 government action plan on 9 February in which it set out a number of ambitious energy sector targets. Prime Minister Abdelaziz Djerad hopes the new plan will help pull Algeria out of a “critical” economic situation.
With oil and gas accounting for the bulk of Algeria’s economic output, the success of its energy targets will largely determine the future outlook of the country which has for years suffered from underwhelming growth and declining hydrocarbons revenues. In 2019, these fell by around 5% on the year to $22.3bn, but still accounted for 46% of overall revenues. (CONTINUED - 617 WORDS)