Algeria earmarks USD 38 bln for 31 projects

The Algerian government has allocated USD 38 billion for carrying out 31 projects in diverse economic sectors.

• Algerian Minister of Finance Karim Djoudi said here Tuesday the sum makes up 75 percent of the budget earmarked for the projects of the five-year plan 2010-2014.
• The projects are bearing on housing, construction and major roads linking Algerian roads, educational and health facilities, as well as seawater desalination projects, he said.
• He reiterated Algeria’s determination to execute fresh development projects targeting economic recovery, shoring up investment and completing infrastructure projects, involving bridges, roads, railway and power plants.
• The Algerian government has set out a plan for national economic recovery and investment stimulation at a total cost of USD 150 billion, the minister pointed out.
• The plan is expected to provide three million new jobs and two million flats, he said.