Economic Experts: “Algerians will pay the wage increases' negative consequences for long years”

Phenomenon of inflation which affects the fragile economies, in which exports are weak, and the economy is diverse and production is weak, an Algerian economist and Head of National Association of AlgerianEconomists, Chebaiki Saadane said at Echorouk Forum.

“Algerian economy suffered from this problem and will face other crisis. Government should encourage the national production and diversify economy, and stop the distribution of funds on wage increases that are not justified economically”.

“Government is responsible for the explosion of inflation during the current year. Government take decisions and then back down to them, and therefore it has lost its credibility in the street, and the citizen does not believe the promises that launched by the government which is unable to apply the laws which it had set”.

“Government is responsible for the inflation as well, through its institutions, including the central bank, which issues texts through the Official Gazette which oriented for private people, while it was supposed that those texts will be understood by half of society at least, because the intent from the economic mobility and development is the citizen. The community is also responsible through its parties, assemblies and parliament, which does not ask the government for reasons of not applying the laws it issued”.

For his part, an economist and former adviser to the World Bank, M’hamed Hamidoush, called for more transparency in the conduct of foreign currency by the Bank of Algeria, saying that the central bank is not conducting the balance of Algeria from hard currency in a transparent manner, stressing the need for freeing the process for banks and companies, and move quickly to the investment banks which can control and escort intervention in sectors and markets which realize profitability and interest for the national economy.