The Problems With Populism

With a rising oil income, public economic expectations in hydrocarbon rich Algeria have been raised, to the detriment of ongoing reforms. Riots and protests erupt daily in the country, due to high levels of unemployment and an acute housing shortage. Economic reforms, and particularly privatisation efforts also face resistance owing to the resultant job losses. According to official figures reported by Reuters, the national unemployment rate stood at 15.3% in 2005, apparently reaching a dangerously high 75% (up from 73% in 2004) amongst under 30 year olds. Partly to address such problems, the government is planning to spend US$80bn

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