The Algerian government revealed in a statement issued about the growth of the gross domestic product of the country which is considered a member of the Petroleum Exporting Countries "OPEC", by 0.8 percent during the year 2019, representing a decrease of 1.4 percent from the previous year (2018).
The government attributed this decline to the weak performance of the energy sector, indicating that growth in this manner is less than the government expectation at 2.6 percent for the year 2019, which witnessed major protests that had a great impact on the economy dependent on crude oil.
In the same context, Algeria's National Bureau of Statistics revealed a 4.9 percent drop in growth in the oil and gas sector after a 6.4 percent drop in 2018.
It is worth noting that Algeria's energy revenues fell 25 percent year on year in January, affected by both production and price declines.
Last March, Algeria made a package of economic decisions aimed at reducing the negative effects of the collapse of oil prices on the local economy, and facing the repercussions of the outbreak of the new Coronavirus.
Source (Algeria News Agency, Edited)
