... of the economy as a form of socialism. Nonetheless, the charter was scrapped due to economic difficulties. This has led to excessive borrowing from international lenders in order to keep the industry afloat. In 1992 the government initiated an austerity program. They prohibited the import of luxury items and introduced many new taxes. This program was approved by Algeria's main source ... heavy manufacturing, and the bulk of the transportation and communications sectors. However, it has undertaken efforts to privatize the economy allowing for banking, light manufacturing, and commerce ...

• Word Count: 1658
• Approx Pages: 7
• Grade Level: Undergraduate