Washington was ready to accompany Algeria in building nuclear power plants to produce electricity

It indicates that the economic sector has become more capable of creating employment, pointing to the need for additional effort by the next president in the field of cleansing the business climate and the fight against the black market, which controls more than 40 % of the economy, and monopolises the largest parts of imports, as the next president should solve the problem of illegal trade in hard currency in the context of climate cleansing, and making it more encouraging for the local private sector and more attractive to foreign capital.

 

IMF stressed the need to diversify the partnerships at the level of Global Geographic and Economic Groups, in the sense not to continue to focus on Algeria’s transactions with the European Union only.

Position of the current government on the eve of the elections that will take place on Thursday, was supported through a statement that was made by the Finance Minister, Karim Djoudi, about the financial capacity of the country, especially the reserves of foreign exchange, which amounted to the end of last March, $194 billion which means more comfort in the area of coverage of imports until 2017.

This position enhances the recognition of the candidate Abdelaziz Bouteflika, about the need to diversify the economy and think about the trend towards more facilities for local and foreign investors, taking advantage of the positive results of the decline in the level of interior indebtedness and the liquidation of foreign debts since 2007, with reference to strengthening the capacity of local funding by resorting to deep reforms on the financial market and the inclusion of dozens of government and private institutions in Algeria stock market, in order to give it a rightful place in the financing of the economy and especially that the government launches the reform of the conditions for the entry of foreign companies, under the Algerian law, to the stock market, as well as to facilitate the registration of public sector companies in the stock market, a decision that will be strengthened by the inclusion of facilities on the Law 49/51, which allows more Algerian firms, at the expense of the foreign partners, and probably will only focus on the strategic sectors, and will be deeply included in the Algerian tax code, as to commensurate with the last corner before the accession to the World Trade Organization with the direct support of  USA, which believes that its economic interests in Algeria are expanding very positively in the recent period, especially after the visit of John Kerry, who discussed a number of economic issues with Algeria, including the subject of technical assistance to acquire nuclear technology for peaceful purposes, and in return, U.S. companies will obtain more projects, led by energy companies and General Electric Company, which won billions of dollars in contracts during the last three years in collaboration with SONELGAZ.