Africa Investment: A decline in oil and gas investments in Algeria
There is a decline in Algeria's oil and gas investments as the government looks for a way out of this crisis, Africa Investment said.
The Algerian economy relies on hydrocarbon exports, which account for more than 40 percent of the country's budget, but the global decline in crude oil prices and stagnation, and increased domestic consumption, which limits available gas for export, have severely affected revenues.
He pointed out that the situation of the country's unstable, led to a decline in reform of the economic sector and energy, which will make the country more attractive to investors.
On the other hand, the director of the global risk company, Anthony Skinner, that the high rates of inflation and unemployment, will lead Algeria to an economic disaster.
He added that the basic economic picture of Algeria is moving quickly towards the economic crisis, and in order to try to compensate, as far as possible, and avoid the collapse of the economic sector, Algeria needs to increase production, especially gas.
"If Algeria is to attract international oil companies to its rich basin in Aminas, the country needs an effective government that can conclude deals and enact energy law reforms," he said.
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