Algeria : industrial public sector has lost 80 percent of growth expansion since 1989

According to a report issued Monday by the OECD, entitled “African economic prospects 2008 “, Algeria’s prospects in the economic field have improved appreciably since the year 2002.

However, the reports noted that the results achieved in the economic sphere by Algeria were still not up to mark notably in the non – hydrocarbons sector which is still marking time despite the vast potentialities possessed by the country.

According to the report, Algeria ’s gross domestic product reached 3.2 percent in 2007 compared to 2.5 percent recorded in 2006 owing mostly to the large revenues accrued from oil and gas exports.

The report also indicated that the building and public works sector in Algeria recorded a 9.5 percent growth rate in 2007 compared to 11.5 percent in 2006.

The industrial sector is, however, lagging behind with a very low growth rate of just 1.1 percent registered in 2007 compared to 2.8 percent in 2006.