Algeria's government vows to solve prices crisis by next week

Ahram Online and wires, Friday 7 Jan 2011

Algerians have seen a sudden increase in a wide range of consumer products, leading to riots and protests throughout the country

Algerian youth
Algerian riots throughout the country may calm down after the goverement promise to resolve the problem. (photo: Reuters)

Minister of Trade Mustapha Benbada said Thursday that his office has begun working to contain the crisis in the sudden rising prices of a wide range of consumer products. The crisis will begin to be resolved next week, according to Algerie press service. 

This current crisis caused riots throughout Algerian cities, with violent protests over rising food prices, living costs, and unemployment. Youth protesting in the streets demanded the government subsidize food commodities and create sufficient job opportunities for the available labor force. Neighboring Tunisia was also struck by protests in a wave of similar unrest.

"I think we are beginning to contain this crisis and we want to find a solution early next week," the minister said in a press statement after a meeting with sugar and oil processors and importers.

A general settlement to the crisis was agreed upon by eliminatingthe new conditions imposed earlier this year to wholesalers, who, in addition to the increase in prices on world markets, have destabilized domestic market supply of a wide range of consumption products, causing the sudden prices increase, according to the Agency's website.

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