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Algeria and the Urgency of Diversifying Beyond the Oil Economy

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Oil producing nations that have large populations and are heavily dependent on oil exports are particularly vulnerable to global economic volatility

Some OPEC countries like Algeria are bracing for a rough year to come. Producing nations that have large populations, in particular, and are heavily dependent on oil exports are particularly vulnerable to global economic volatility, despite the billions of dollars of reserves they have accumulated since 2003. This time, the situation appears even more alarming given the massive drop in oil prices that has occurred over an incredibly fast period. Continue reading here.

Comments (2 posted):

Colin Kilkelly on 10 March, 2009 12:56:03
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Algeria's gas and LNG is probably more hopeful. Since 2000 the Algerian government has failed to ensuren that oil funds really reach the people. There has been an oil and gas economy but no effective private sector baking and industry development except for Cevital.
Samir Mohammedi on 01 April, 2009 04:48:17
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Algeria's dependency on oil is definitely the Achilles heel of its economy. Besides, it's certain this resource is NOT EVERLASTING (no more than 30 years left)...So, is it a blind and unconscious exploitation based on immediate and fast profit or is there a plan B?

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