Ouyahia: dinar collapse in black market will not stop government’s decisions

Algeria’s Prime Minister Ahmed Ouyahia Monday talked about the collapse of national currency, saying it twill not stop the government from continuing its decisions.

Ouyahia did not give a big importance to the national currency collapse in spite of experts’ warning.

“Few meters from the Senate, hard currency is traded in the black market of Square. Algeria will not be ruled by rumors. We will execute what we decided,” he told senators.

He alluded to the fact that the Algerian dinar value will go up again.

“Hard currency price is legalized by the Central Bank. Who wants to buy from Square, he just goes to do it,” he added.

“After 3 years of crisis, enough is enough. If we do not print money in November, we will block economy. Even members of Parliament and the State’s executives will not earn their salary, not just employees,” he said.

“We do not have any other choice. Our revenues went down to the half. Money may be printed after 3 weeks,” he told senators.

He talked about the government’s decisions to face the crisis including freezing vital and sensitive projects in education and health sectors.

He also said the State could not pay due money to sub-contractors. “You saw that we froze health and education facilities. Many enterprises went bankrupt.”

“The frozen projects in education and health sectors will be launched once again progressively in a year or a year and a half,” he added.

“Unfortunately, the economic situation is dangerous. Because of that, I explained those facts in this daring way,” he said.