Long ruling Bouteflika has stepped down after popular protests leaving behind him an embattled economy vulnerable to international oil prices. However, the government would need crude prices nearer $100 a barrel to balance its budget in 2019. The ruling elite refuses external borrowing and shied away from carrying out structural reforms to relieve the Algerian economy from utter dependence on oil. As one of the most closed economies in the region, the Algerian stock market has only five companies. The lack of investments in tourism infrastructure and insecurity left untapped Algeria’s tourism sector, a source of thousands of jobs and hard currency, untapped.

Source: The North Africa Journal April 07, 2019 09:00 UTC