Algeria puts 300 public establishments up for sale

Despite the wave of violence which it is currently witnessing, Algeria has managed to overcome its financial dilemma as a result of the practical procedures adopted by the Algerian authorities in the economic and financial fields.

Algerian Minister of Trade Bakhty Balayeb expected that Algerian reserves in foreign currencies will increase by the end of the current year to $8 billion compared to $4.5 billion at the end of 1996.

The Algerian Minister stated that those reserves will be sufficient to supply Algerian needs for a period of 8 months. He added that the Algerian government succeeded in rescheduling its external debts which reached $24 billion. He also said that the government will have an annual revenue of between $14 to $15 billion from its oil and gas exports and oil derivatives.

Balayeb said the Algerian government is putting 300 public establishments up for sale within its privatization plan. He also stated that the Algerian economy achieved a positive growth of about 4.5% in 1996 after this rate was negative in the early 1990's.