Diversifying economy, a national priority

Diversifying the economy is a national priority, said Energy and Mining Minister Youcef Yousfi, adding that all efforts should be directed to achieving this objective. ’’Today more than ever, all the conditions are set: abundant and diversified raw materials, constant growth owing to intensification of prospecting, long term energy security, quality infrastructures, qualified human resources, absence of major constraints for project financing," he told the Frenchdaily Le Monde. The minister underlined that Algeria has almost reached full electrification, one in every two homes are supplied with natural gas, while the "external debt which impeded Algeria’s development efforts. "All sectors of activity have showed significant progress reflecting positively on the country’s economic development over the past years," Yousfi said. "Today we should focus on industrialization through small and medium-sized enterprises," he said, adding that the sector of Energy and Mining "is involved with ambitious programmes. In this regard, he mentioned the projects launched for "the production of equipments used in oil, gas and electrical energy industries, as well as the new refineries and petrochemistry factories."