Algeria-President Abdelmadjid Tebboune pledges to generate new resources beyond energy to relieve economic crisis

Oil and gas exporter Algeria intends to generate other natural resources including uranium, gold and phosphate with the aid of foreign investors after the termination of the health crisis prompted by the coronavirus, President Abdelmadjid Tebboune announced on Friday.

The country economy still relies massively on energy profits despite commitments in past years to carry out reformations and evolve the non-hydrocarbon sector.

A sharp drop in oil and gas revenue in recent years has increased the country’s financial problems, extending the budget and trade deficits.