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FEB 07, 2013 - The Economist

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Algeria’s oil and gas: Not so jolly

TIGHT military control and generous spending on social services, thanks to the high price of oil and gas that Algeria has in abundance, have so far prevented President Abdelaziz Bouteflika and his regime from being shaken by the upheavals in other Arab countries. In 2011 oil exports earned Algeria $55 billion. Foreign-currency reserves are strong. GDP is expected to rise by more than 3% this year, says the IMF. The official unemployment rate of around 10% is lower than elsewhere in the region.But all is not well. Of the world’s big oil-producing regions only the North Sea’s output has dipped ... Read More

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