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Algeria faces oil shock as subsidies stay under pressure
Oil's plunge strains Algeria's economy which relies on oil for 97 percent of hard currency earnings and 60 percent of the budget. Central Bank governor Mohammed Laksad warns the dividend will not last, urging reform though health issues of President Bouteflika stall policymaking. analysts say privatization risks deter change while Russia's turmoil mirrors Algeria's vulnerability.
MENTIONED IN THIS ARTICLE
Algiers
Algeria
Russia
Mohammed
Laksad
Abdelaziz Bouteflika
Vladimir Putin
Bouteflika
Geoff Porter
North Africa
Rosneft
Venezuela
Nigeria