Living conditions in Algeria were better before 1985, says expert
Ech-Chorouk, January 14, 2008
Official statistics confirm the decrease in purchasing power by more than 59 percent between 1985 and 1995 and by 10 percent since 1998, according to en economic expert.
The figures issued by Algeria's national office of statistics clearly show that living condition in Algeria was better in 1985 than it is nowadays, said doctor Abdelhak Laamiri.
Laamiri, who participated in a conference held by the confederation of finances and accountancy executives Monday said measures taken to prevent that decrease were unsuccessful because they focused on formal aspects rather than productive investment support.
He added that the absence of a clear economic strategy causes a serious decrease in Algeria's competition level in the world. "That is due to the decease in its institutions productivity, business environment and its exports out of hydrocarbons."
Laamiri mentioned that Algeria's imports growth was estimated at 200 percent during 5 years while its exports size went up only by 5 percent during the same period.
"The present economic situation is like a villa built on non solid basis. That means it is vulnerable to collapse in a first quake."
Story by : Abdelouahab Boukrouh / Translated by : Halima Nine