Algerian newspaper 'Baouabet Chourouk' revealed that 50,000 companies specializing in public procurement and public works have declared bankruptcy while 350,000 companies, employing around 1.7 million people, are facing major economic crises due to the freezing of new workers following the popular uprising broke out on February 22.
The entrepreneurs called on the public authorities to intervene quickly in order to sign new tendering decisions in municipalities, governorates and other local bodies and explained that the lifting of the freeze on projects and loans must be the priority of the new President of the Republic.
'Achourouk' reported, quoting the vice-president of the Algerian employers' confederation, Zakir Fazar, that the situation is worsening day by day for private entrepreneurs who continue, despite this situation, to pay their debts (estimated at billions dinars) which are, in turn, intended to pay public debts. In return, companies continue to suffer major crises in the absence of any new projects. In this context, Zakir Fazar explained that the entrepreneurs are desperately looking for new tenders and have offered to initiate dialogues with the authorities in order to save these companies which employ 1.7 million people but in vain.
According to the person concerned, the crisis experienced by the majority of these companies will lead them to carry out collective redundancies whereas the average of employees with small entrepreneurship enterprises is 5 people according to declarations made to the Caisse nationale d 'social assurance.
The Algerian national economy is suffering from the suspension of projects and tenders, which has also impacted the banks while investigations into corruption files continue.
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