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Article: The new interest in Algeria.(BUSINESS & FINANCE)
- Article from:
- The Middle East
- Article date:
- August 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALGERIA'S RETURN TO better fortunes has been aided by high oil and gas prices that have been on the up and up since 2003. These funds have endowed Africa's third-largest economy with a surge in revenues and the means to start anew and run down debt. The market-oriented reforms launched by Algeria over the past few years are beginning to bear fruit. Following a sharp slowdown in growth in 2006 Algeria managed to turn around its economy in 2007 and achieve robust expansion of 5% or so, which was mainly attributable to the non-energy sector. Government investment, especially in housing and infrastructure, was the main driver. Similar growth rates are expected for 2008. Last ...