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07/01/2018 - 07:00hs

Economic outlook positive for Algeria

A survey showed that the majority of business owners in the country are optimistic regarding the next 12 months, and that companies are prone to investing.

London – The economic outlook for Algeria is positive, despite revenue losses stemming from the oil price slump since 2014, Algérie Presse Service (APS) quoted British research firm Oxford Business Group as reporting.

APS said 61% of recently polled Algerian business owners have very positive expectations regarding the business environment in the 12 months to come. Moreover, 70% of respondents said their businesses are “likely or very likely” to make investments in 2018.

The British firm said Algeria’s economy became more solid in 2017 through a hike in energy sector revenue – since oil prices have recovered somewhat –, as well as measures designed to curb imports and increased tax collection.

It said, however, that Algeria’s ongoing reliance on oil and gas exports makes it more vulnerable to external shocks, and notes that weak oil and gas revenues remain an issue.

Weaker oil export revenue is one of the reasons Algeria’s government has been working to reduce imports.

*Translated by Gabriel Pomerancblum

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