Oil has fallen to it’s lowest price since May 2009. Many countries, especially in Africa and the Middle East, rely almost solely on oil revenue - For Algeria, oil revenue makes up 97 percent of hard currency earnings, and the government has done little to diversify the economy. This heavy reliance on oil and gas is dangerous. While Algeria has done well to subsidize basics such as electricity, food, education, and housing, all of these things are provided and supported with money brought in from oil and gas. “Algerians will not find anything to eat if the price of oil continues to fall,” stated independent lawmaker Habib Zegad. Read more on Algeria’s monoculture economy here.
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Each week, our fabulous closed beta users receive Navvi post inspiration.
Last weeks prompt:
South Sudan is a current point of interest in the news. What are the issues that interest you? Why is this news relevant to you in Kenya? What is your insight? How does the conflict and crisis relate to food, water, energy, infrastructure, environment and/or health?
Andrew Ruto, a student at Strathmore and one of our closed beta users, posted about the importance of South Sudan’s oil industry on Sudan’s livelihood and the effect civil war has on this vital industry.
Andrew wrote, "South Sudan produces 85% of Sudanese oil output. Oil revenues constitute more than 98% of the government of South Sudan’s budget. The current civil war going on in South Sudan means that the economy of the country has been crippled due to the civil war that came up barely a month ago."
Closed beta users can read more here - http://navvi.com/#live-feed/article/2647