The Algerian regime, thirsty for whatsoever international gains, was deflated by BRICS nations which did not even include the country among the five new potential candidates to join the grouping in South Africa.
Algeria has been punching above its weight asking officially to join BRICS with President Tebboune openly courting Russia to help it access the grouping of the fast growing emerging economies.
“At a very tense international context, Algeria seeks to accelerate its accession to the BRICS and break away with the hegemony of the Euro and the dollar,” President Tebboune recently said.
But now, he has to come to terms with the reality that Algeria is not even worthy of examining its candidacy at the next BRICS summit.
A senior Indian government official said Saudi Arabia’s adhesion is almost certain while other front runners include Indonesia, the UAE, Egypt, and Argentina.
The five new candidates all dwarf Algeria’s GDP which stands at 163 billion dollars only with a GDP per capita that is pegged on barrel prices standing at around 3500 dollars compared to that of Argentina at 10,000 dollars.
Applying for the BRICS also shows how the ruling elites in Algeria are myopic to their own economic size as a nation which depends by over 90% on hydrocarbon exports in a fast evolving world that is speeding up its energy transition away from fossil fuels.
Source : TheNorthAfricaPost
