FINANCIAL NEWS

Algeria to relieve public anger through low prices

03 Feb 2011

(MENAFN) The Trade Minister of Algeria, Mustapha Benbada, said that the country is planning to take some measures to relieve the public anger regarding increasing costs of basic foods and to prevent protests, reported Magharebia.

Benbada said that the first step would be limiting oil prices at $8 for every 5 liters and sugar prices at $1.2 per kilogram of sugar.

The minister said that the government is planning on establishing a legal structure to control the increasing cost of basic products.

Benbada said that the government is now focusing on absorbing the local rage instead of encouraging the local production and the recovery of agriculture and the lowering of imports.

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