Fifty-five State-owned enterprises employing 106,000 people in Algeria are technically bankrupt, and a government Minister has described the companies as "political time-bombs" that should no longer receive public money without making commitments to reform, said Upline Securities.
The State-owned enterprise sector as a whole was running a bank overdraft of Ad118 billion at the end of last year, up from Ad108 billion in 1999, and the average age of public industrial equipment is now 21 years, said the independent specialist of financial markets in Morocco.
The government has responded to the crisis by advocating a privatization program over a five-to-ten year period, it added – Albawaba.com
