Algeria riots: Losses amounted to US$6.85 billion

Published January 9th, 2011 - 01:46 GMT

 

The Algerian Union of Industrialists and Producers declared that the losses to the public and private properties during the past three days, amounted to more than AD500 billion, or nearly US$6.85 billion. Over the past few days, young Algerians participated in the riots to protest recent price hikes.

The Algerian government claims the price hikes are the result of the recent developments in global markets. The Algerian government announced yesterday after an emergency meeting the temporary exemption of duties imposed on oil and sugar in order ro calm the streets.  

 


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