New system of evaluation to asses future economic crisis in Algeria

The General Directorate for Prospects and Strategies affiliated to the Finance Ministry has applied a new system called” Countable General Balance” that relies on the “crisis’ simulation” with the view to forecasting likely economic danger and cushioning loses engendered by mismanagement.

• According to Ferhan Sidi Mohammed, the new system will help the decision makers best evaluate the future economic prospects drawn out by the economists, noting that a simulation of a given crisis like the fall of oil prices will help the experts evaluating the economic repercussions thanks to the new system over a year.
•  The new system that takes as a reference the year 2009, is countable and adapted to the Algerian economic model. 
• The head of the Global Economic Prospects Department Al Ouahedj Sid Ahmed has indicated that the system whose “fixed” chapter has been applied since 2011, while the “variable” is on trial and intended to be applied in 2013, will spare the economic experts resorting to long term statistics.
• He expressed his disappointment at the fact that the system was not available when Algeria started negotiations with the EU to asses precisely the fallouts of this agreement on the Algerian economy.