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Article: Algeria moves forward on key reforms.
- Article from:
- Market Africa Mid-East
- Article date:
- June 1, 2006
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A Reuters April 16, 2006 report, datelined Algiers, cited information from Banque d'Algerie-the central bank of Algeria-saying that the economy grew 5.1 percent in 2005. The figures were made public on April 14, 2006.
The report said, too, that growth for the past four years exceeded an average 5.0 percent.
Algeria, of course, is an oil producing country. In regard to Algeria's solid growth numbers, the Banque d'Algerie confirmed that "the growth engine was the hydrocarbons sector."
Oil has delivered a measure of economic stability to Algeria's consumers, which institutions, including the government, have been slow to provide. It is worth ...