Rabat – Rising food prices in Algeria have led to a difficult Ramadan for many, as citizens see their purchasing power drop ahead of Eid Al Fitr celebrations.
Food prices in Algeria have risen due to similar global challenges that have impacted much of North Africa. Global food supply chains have struggled with a slow recovery from the economic consequences of the COVID-19 pandemic, mixed with supply chain disruptions worsened by the Ukraine conflict.
Algerians have felt the brunt of the blow caused by global trends, as the Algerian government’s limited stocks of basic supplies meant the country had to resort to expensive foreign imports. Soaring prices have significantly reduced the purchasing power of most Algerian citizens, a painful trend amid the month of Ramadan and the Eid Al Fitr celebrations ahead.
Ramadan and Eid al Fitr are commonly celebrated with large festive meals, shared with family and friends, yet rising food prices have made it difficult to feed the family, let alone treat visitors with the generosity and sharing tradition that is typical of Ramadan.
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Gas-rich Algeria logically would be facing both economic difficulties due to limited food supplies, which could be off-set by record energy prices that have raised government revenue significantly. Yet, despite Algeria’s vast natural resources, price hikes have been near-universal, even among locally produced products.
Civil servants went on strike and took to the streets this week to protest what many see as the peak of Algeria’s recent economic woes. With basic foodstuffs including cooking oil, water milk and pasta reaching exorbitant prices, many blame Algeria’s regime and its economic policies for the ongoing economic crisis that has marred religious celebrations.
Algeria’s government faces a complex gamble amid the current crisis. The country faces international pressure to boost hydrocarbon exports to Europe to combat its reliance on Russian oil and gas. Yet, many experts predict that gas prices could again fall rapidly once the crisis in Eastern Europe eases, making any current large-scale investment more of a liability in the future.
