As it continues its sealed border policy with neighbors, combined with import restrictions, Algeria deepens its isolation in a dynamic African continent, further undermining prospects of economic diversification away from oil and gas. The lack of vision decried for years by independent analysts resulted in serious repercussions. As it heads straight to insolvency, Algeria insists on shunning reforms in favor of time-buying measures. These companies owe their existence to public markets financed by oil revenues or to the distribution of heavily-subsidized products. The business climate in Algeria thwarted foreign investments due to bureaucracy, corruption and an underdeveloped banking system.

Source: The North Africa Journal June 02, 2018 12:22 UTC