Algeria News & Events, Latest News for Algeria

Update: Tuesday, 6 January 2009    

Foreign direct investments in Algeria not exceed $1.6 billions

A US report on financial crisis aftermaths on MENA countries
Sunday Dec 28 2008.

Middle-East and North African countries, including Algeria, are start suffering from outcomes of the current global financial crisis by next year; a report released by the Organization of Economic Information, an institution specialized in assessing world economy.

Foreign direct investments in Algeria, in all sectors, including hydrocarbons, reached $1.66 bln, compared to, for example, $13.253 bln in the Emirates, the same report said.

According to this institution, foreign direct investments’ rate reached 10.2% of GDP, in Algeria, in 2008. Such a rate is low if compared with other countries across the region. This situation is as a result of the bureaucracy hindering the investment projects in Algeria.

2009 will be one of the most difficult years for the economies of North African and Middle East countries’ economies, including Algeria, added the same report, while the growth rate is expected to hit 4.2% of GDP, concluded the report.

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