Wednesday, 28 September 2016

Brain drain has cost Algeria165 billion dollars in 30 years

Algeria has lost an estimated amount
of 165 billion dollars due to brain drain
from about 500,000 elite Algerians
working outside the country.

This is according to the country’s
former Minister of Trade Smail
Goumeziane who has described the
brain drain as an invisible export.
In a recently published article in in one
of the newspapers in the country, the
former minister explains that this
immigration allows the host country to
save 12,000 dollars per year a 60
billion dollars shortfall to Algeria.
He also says that by creating wealth
estimated at 20,000 dollars in a year
for the host countries, Algerian
managers generates some 300 billion
dollars that only favours the foreign
countries.
This leads to a total of 465 billion
dollars which have benefitted the host
countries in a 30 year period.
These revelations have been made
when the country is currently
undergoing an economic crisis caused
by the fall in global oil prices.