Algerian expert calls for depending on industrial economy

Algerian economic expert Abdel Rahman Mabtool stressed the need for turning the Algerian economy from depending on fuel to full dependence on industrial economy during the coming period, saying that it became one of the major priorities. He added that the notable decline in the prices of oil led to a state of collapse in the Algerian economy.
He added that the current economic situation in the country is deteriorating, blaming the government for not finding alternative solutions to resolve the economic problems. He added that the government should realize that the prices of oil will not return to its previous rates due to the developments witnessed in the international markets.
He added that the government should work to attract more foreign investments during the coming period, saying that the recent laws issued by the Algerian government have not done this job. He added that such laws do not support the investments, while they pose more challenges before the foreign investors and prevent them from entering the Algerian market.
On the other hand, the Algerian expert praised the economic model revealed by the Algerian Ministry of Finance, saying that it would control the Algerian economy during the coming period to adapt with the economic and social revolution witnessed in the country.
He stressed that the Algerian government should perform its role to revive the local production whether through the public or private sector, saying that increasing production is the only way to resolve the current economic crisis.