As Algerians of all walks of life continue to protest against the military Generals and old guards for keeping a tight grip on the country since independence, all economic sectors of the country are plummeting, heading for a crash. This is the conclusion of the World Bank, which says that deepening political crisis affects business environment, while the hydrocarbon sector continues to contract in the face of oil price volatility. Top business executives in various sectors have been detained on investigations of corruption, leading to economic disruptions due to abrupt changes in management and supervision, as well as investment uncertainty, says the World Bank report. In the hydrocarbon sector, political crisis will dampen in 2019 the hope of increasing production as the revision of the hydrocarbon fiscal law is delayed. As a result, GDP growth is expected to decelerate to 1.3 pc in 2019, according to WB outlook.

Source: The North Africa Journal October 10, 2019 15:33 UTC