Export diversification achievement in a reality of the Algerian economy dependency on hydrocarbon sector

Abstract

The Algerian economy still suffers from dependence on the hydrocarbon sector, despite the government`s successive reforms schemes since its independence in 1962. This paper deals with the scourges that the Algerian economy suffers from, such as Holland syndrome and Natural resources` price volatility, which hamper the Algerian economic diversification. It is noticeable that the state`s efforts to promote the private sector, which is characterized by the entrepreneurial and innovative returning, and in collaboration with the public dominant sector. The focus was also on legal reforms in 2019, which were represented in amending laws and regulations related to motivating investors and attracting foreign investments. What causes optimism, is that, these recent legal reforms require time to ensure their effectiveness in achieving economic development and export diversification.

Keywords

• Export Diversification
• Oil exporting economy
• Economic diversification
• Oil dependence