LOC14:11
11:11 GMT
(With POL-KUWAIT-PARLIAMENT series)
KUWAIT, June 28 (KUNA) -- Algeria is striving to realize sustainable
development through two ambitious social and economic programs worth more than
150 billion US dollars, an Algerian legislator said on Thursday.
Abdel Hameed Bin Al-Sheikh Al-Hussein, addressing the Parliamentary Forum
on Development and Education in Arab Countries, confirmed Algeria's continuous
implementation of the 1999-2004 and 2004-2009 development strategies, adding
that it had also succeeded in paying all external debts. He also put the
currency reserves at more than USD 80 billion.
The remarkable economic development followed a period of stagnation and
recession, resutling from "the coward terrorism," he said alluding to a spate
of violence dating back to the 1990s when radical Islamic groups waged a
bloody campaign against the state after suspension of polls.
At the time, the Algerians suffered greatly and conditions dramatically
deteriorated to the extent they could not afford paying for a single shipload
of wheat, he added, affirming the relationship between security and
development.
But indicated at some major concerns; prospected "stabilization" of oil
prices, consequences of Algiers' joining the World Trade Organization (WTO),
economic openess and reforms. He indicated that dependence on oil as a major
source for income must be cut. (end)
ms.rk
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