Black market caused a loss worth 40.000 billion Algerian dinars

Algiers-The General Union of Algerian Traders and Craftsmen warned of the decline in national production, adding that the data indicate that Algeria is facing the problem of poor production before demand, which will increase the prices by 30% by the year 2012.

Communication Officer at the GUATC, Hadj Tahar Boulenouar said that the most important obstacle before investment is the problem of money laundering through the black market, which caused a direct loss to the state’s treasury by almost 400 b DZ.

“Continuing in the same economic policy and same procedures will keep the government unable to raise production. Higher prices likely to reach 30% by 2012, because many of the producers reach important degrees of weakness, and there are a large number of producers that will return to importers, as a result of the facilities offered to importers more than producers, by virtue of profit. The demand will increase and production will decrease or remain constant”, he added.

“Government is unable before importers and is encouraging import to stop the wrath of social front. The high food bill increased from 6 billion DZ in 2010 to over 7 billion DZ in 2011 and will reach 8 b DZ by 2012.