Algeria has “great capacities” to address drop in oil prices

February 3rd, 2016


APS : Tuesday, 02 February 2016

ALGIERS- Algeria has “great capacities” to deal with the consequences of the drop in oil prices, said Tuesday in Algiers the Speaker of the People’s National Assembly (Lower House) Mohamed-Larbi Ould Khelifa.
“As the Algerian people were alone to defeat terrorism and even to defend the existence of the Republic by paying a heavy price, they possess today great capacities which need to be invested,” said Ould Khelifa in his closing speech of the Lower House’s autumn session, underlining that the Algeria people “ have been characterized throughout all their history’s stages by their capacities to transcend the challenges posed by the domestic and foreign scenes”
Among these capacities, he cited agriculture “considered as one of the country’s permanent wealth which needs work force and modern techniques likely to increase to the production in terms of quantity and quality.”
According to him, encouraging transformation industries, encouraging exports towards foreign countries as well broadening the industrial basis are among the other capacities.
On this occasion, Ould Khelifa denounced the media and partisan speeches, throwing out “ the spectre of the economic crisis,” which “ do not constitute a useful approach to deal with the effects of the drop in oil prices in the international markets.”
“There are promising signs of an industrial revival in the medium term, in addition to the sector of tourism,” he said, underlining that the latter “is expanding and modernizing according to the international standards.”