Delayed development projects cost Algeria a loss of 10.5 billion dollars

Authorized sources from the Finance Ministry told Echorouk that the failure to achieve on due time several development projects included in President Abdellaziz Bouteflika's program had incurred a loss to Algeria estimated at 771 billion dinars or 10.5 billion dollars.

• This is mainly due to the sluggish pace and lapses of some ministerial departments delaying the smooth fulfillment of these projects included in the 5 – year development program initiated by the head of state Mr Abdellaziz Bouteflika.
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• The same sources said that exhaustive reports on the matter had been forwarded to President Bouteflika and Prime Minister Ahmed Ouyahia just before drafting of the new finance bill for next year.
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• This staggering loss of money caused to the state budget is almost equivalent to the financial package of about 11 billion dollars earmarked by the Algerian authorities for the construction of the 1.240 km – long East – West highway, said the same sources.
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• This financial package could have served, if it was not squandered by ill- devised ministerial programs, for the construction of about 5 hundred thousand new housing units in various parts of the country.
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• This serious drift prompted Prime Minister Ahmed Ouyahia at the behest of President Bouteflika to issue a directive on June 22^nd 2010 to all the members of the government enjoining them to strictly abide, from now on, by the deadlines set for the full achievement of all the development projects under their supervision in order to preclude any extra costs or expenditures in relation with these projects spanning all sectors of activity.
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