Algerian Prime Minister Abdelaziz Djerad has pledged to "clean up the disastrous legacy" of governance in previous years that devastated economic institutions.
He was referring to former president Abdelaziz Bouteflika’s 20-year rule.
Djerad made his remarks during the presentation of his government's plan of action to the People's National Assembly (lower house of the parliament) in a plenary session.
He affirmed that the fragile financial situation will be confronted by the government steadily and responsibly. He promised to eliminate the "unconstitutional" meddling in political and economic decision-making.
According to observers, his remarks were a reference to politicians ruling on Bouteflika's behalf and taking unconstitutional decisions.
Bouteflika resigned in April last year, succumbing to six weeks of largely peaceful mass protests driven by youth and pressure from the powerful army.
Djerad confirmed that the country is financially fragile, noting that the general budget still depends on the volatility of the oil market.
The budget's deficit aggravated in 2019, and the trade deficit reached USD10 million end of the year. Expenditure reserves dropped by more than USD17 billion, compared to 2018.
Djerad slammed Noureddine Bedoui’s government, underscoring the giant financial impact resulting from decisions and pledges made in 2019 despite the lack of funds.
He affirmed that the government will not give up despite this complex situation. The PM hailed the thorough economic, political, and social reforms brought by the presidential program.
“Our country has experienced catastrophic mismanagement in recent years which led to the squandering of its wealth,” Djerad said. The government will carry out “deep reforms to get the country out of this critical political and economic situation,” he said.
The government plan includes boosting dialogue with the opposition and seeking alternative funding sources for the economy such as issuing sukuk and developing the country’s tiny stock exchange.
Undoubtedly, the majority – backers of Bouteflika – will approve the plan of action. Then it would be referred to the National Assembly for final approval.
Meanwhile, hundreds of university students took to the streets for the second month, demanding 'A civilian, not military state', which is the slogan of the popular movement since Feb. 22 2019. They also called for releasing prisoners of conscience.
