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The new interest in Algeria
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Middle East
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August 1, 2008
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Copyright informationCopyright International Communications Aug/Sep 2008. Provided by ProQuest LLC. (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 year, the inflation ...
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