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FinancialNews
30-11-19
New Algerian energy law focuses on oil, gas sector
(MENAFN) A new energy law by Algeria's upper house of parliament passed the country on Thursday aimed at bracing the key oil and gas sector by making it more attractive to investors.
The 2020 budget was also agreed by Parliament, which also contains reforms to open other sectors of the economy to majority foreign ownership as Algeria struggles with reduction state revenue.
The two pieces of legislation are aimed at opposing falling energy revenue and come at a time of political upheaval in Algeria, where mass protests have shaken the ruling elite.
MENAFN3011201900450000ID1099348487
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