Algeria's socio-economic growth keeps steady, CNES says

Algeria has witnessed a sustained social and economic growth over the past 3 years in spite of some constraints, according to an assessment report issued Sunday in Algiers by the National Economic and Social Council – CNES.

• This growth, the CNES says, bolstered by the plan of support for economic revival (PSRE) and the additional back-up plan for economic growth (PCSC), is notably marked by “a remarkable dynamics” which has consolidated Algeria’s external position.
• The CNES report also says that the development of the financing of private enterprises should be coupled with “a financial security” for a better management of economic credit risk-taking.
• It further underlines that the Algerian economy “remains sensitive to external shocks, stressing to this effect that the current world financial turmoil and its probable adverse repercussions on genuine economies could affect the trend of the price of oil, Algeria’s main exporting product.