A grace became a curse

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For the past three years, the global economy has known a severe recession triggered by the financial meltdown and the collapse of the commercial and industrial activity in the world. This slowdown weighed its effects on the growth of economies worldwide. Algeria, which is not fully integrated into the international economy, is facing or will probably face some indirect effects of this crisis, but in a way less severe than in Europe; The payment of the debt by anticipation, the constitution of a reserve fund and, above all, the high volatility of oil’s prices have allowed Algeria, in the short term, to avoid a catastrophic scenario which could destroy the country. Algeria has all the material and human potential to be a pivotal country for development in the Euro-Mediterranean and the Arab-African areas. Unfortunately, Algeria is a country that depends on 96% of oil revenues. This uncertain business which is hostage of many externalities, can collapse at any time and drive the whole county into a total chaos. The lack of diversification in the Algerian’s economy is making its future uncertain and its standard of living receding. Despite the severity of its effects and the extent of its damages, this crisis can be an opportunity for Algeria to question the supremacy of its economy. It presents the opportunity to straighten out the economy by the execution of profound structural changes which would generate real effects on the economy and on the employment in the long term, and to rethink a model of development for a successful and real transition to the market economy; build a growth which is released from the dependency to hydrocarbons and from the volatility of their prices to finally erase political system based hitherto e... ... middle of paper ... ...ple where a young man never studied, doesn’t have any skills and depends on his parents, when he loses them; he ends up with no possibilities to make a living and realizes that he did invest his youth for his future. The Algerian’s economy is extremely weakened by the annuitant status. This vulnerability is the concatenation of the low diversification of the economy, but also stagnation and decline. Revenues from oil revenues are sufficient to keep it in a static state. Stagnation triumph without sharing. Other economic sectors without clear policies and strategies without defined. Economic actors are paralyzed by invisibility or absence of long-term programs, their inconsistency and lack of planning and vision for the future. The State seems more than ever a follower of the annuity, however, contrary to productive investment and any economic viability

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