Failing To Capitalise On Oil Boom

January 2006 | Economic Analysis

As a net oil exporter, Algeria could have taken advantage of the high energy prices over the last two years in order to reform and liberalise its economy. Yet, in spite of the circumstances that have favoured its oil-based economy over the largely agricultural ones of Morocco and Tunisia, Algeria continues to look the least inspiring as an investment destination. Although it has recorded the strongest growth of the three countries this year – we forecast 5.8% this year, compared with 5.0% and 1.3% for Tunisia and Morocco respectively – this is reflective more of the oil-fuelled fiscal stimulus than

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