Algeria to sell its public sector companies

Algeria announced that some 116 state-run companies out of 238 will be listed in course of a plan to sell these companies as of the end of next June.

The chairman of the Algerian National Council for Privatization, Abdul Rahman Mtboul, said on Tuesday that one third of the monetary volume in the country is in underground (unreported) economy. Private sums deposited by Algerians in foreign banks are estimated at US $30 billion.