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A New Economic Model

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Posted: June 8th, 2016

By Samy Boukaila

Samy Boukaila is President and Managing Director of BKL Industries.

Since 2014, Algeria has been facing a major economic threat to its stability, as the 98 percent of its export revenue coming from hydrocarbons has fallen by more than 50 percent to date. Coupled with a significant fall in export volume of oil and gas since 2008, the future of Algeria’s economic model is bleak and unsustainable.

Algeria is home to nearly 40 and a half million people, with about one million births annually, according to a 2015 census. The government must ensure the economy grows by at least seven percent per year to provide the necessary education, food security, housing, and jobs for an ever-growing young population.

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