Algerians don’t profit from steep hike in oil prices, says economic expert

The economic expert and chairman of the national association for the promotion of the market – oriented economy Abderrahmane Mebtoul has said that the Algerians don’t profit at all from the current financial bonanza deriving from the skyrocketing rise in oil prices on the surging world market.

• Mebtoul affirmed that this big financial bonanza secured by Algeria, profits only to a restricted number of people who are at the helm of the country.
• This Algerian economic expert stressed that the astronomical revenues garnered by the state had, so far, no positive impact on the socio-economic situation of the big majority of the Algerian population.
• Abderrahmane Mebtoul also remarked that the divide was growing wider and that large sections of the society were getting poorer more and more while the state is crumbling under billions of dollars.