The Algerian authorities have conceded that some 55 state-owned companies employing more than 100.000 people are technically bankrupt, said Panafrican News Agency (PANA).
A government minister even described them as "political time-bombs" that should no longer receive subsides without first making a commitment to reform, it added.
State-owned enterprises at the end of last year were some 118 billion Algerian dinars in the red, up from 108 billion in 1999.
The government, according to PANA, has responded to the crisis by advocating a privatization program over a period of between five and ten years – Albawaba.com
