Algeria: President Tebboune fires minister over unreported real estate purchases – North Africa Journal

North Africa Journal: On 29 July 2020, President Tebboune dismissed the Minister of Labor, Employment and Social Security, Ahmed Chawki Fouad Acheuk Youcef. The presidency did not provide the reasons for the decision in its communique. However, sources said Acheuk-Youcef has been caught concealing real estate purchases he made in Spain. The Minister is said to own two apartments in Benidorm, a seaside resort on the east coast of Spain, in investments that he did not disclose. The Minister has reportedly acquired the two apartments before taking up his functions in the government of Abdelaziz Djerad on 4 January 2020 and failed to include them in his asset declaration required by the Supreme Court.

——————————————-

Algiers, July 29, 2020 (AFP) – Algeria’s President Abdelmadjid Tebboune on Wednesday sacked Employment Minister Ahmed Chawki Fouad Acheuk Youcef, his office offering no reason for the move. Tebboune “today signed a decree ending Mr Ahmed Chawki Fouad Acheuk Youcef’s tenure as works, labour, employment and social security minister,” the presidency said in a statement published by the official APS agency. It also named an interim replacement, Kaoutar Krikou who is already the national solidarity minister.

M. Acheuk Youcef, 64 ans, was named to the post in January as part of Tebboune’s first goverment since his December 2019 election. He was reappointed during a government reshuffle in June that saw the energy and finance ministers replaced — two of the key sectors in Algeria’s economy.

The North African country is very vulnerable to falls in oil prices.
Source…

Global Real Estate

Author: Global Real Estate