Algerian President Abdelmadjid Tebboune has stressed the government's commitment to preserving the purchasing power of citizens. During his regular media encounter with national press representatives, broadcast on national television and radio on Saturday evening, Tebboune highlighted the ongoing efforts to strengthen non-hydrocarbon revenues. He emphasized that the state is working to ensure the country's financial stability, focusing on bolstering income sources beyond oil and gas.
Tebboune pointed out that most farmers are not responsible for the current price levels, but those who have contributed to the situation must take responsibility. He underscored the importance of maintaining citizens' purchasing power, stating that it is the government's duty to protect it. The President's comments come amid concerns about inflation and its impact on the standard of living in Algeria.
When asked about the country's foreign exchange reserves forecast for 2031, Tebboune confirmed that they would be "high." He noted that the current efforts aim to "strengthen non-hydrocarbon revenues, as the issue is not just about hard currency but also about independence." This suggests that the government is working to diversify its revenue streams and reduce reliance on hydrocarbons.
Tebboune also mentioned that Algeria has reached an "extremely advanced stage" in digitalization. This development is expected to improve the efficiency and transparency of various sectors, contributing to the country's economic growth. The President's statement highlights the government's focus on modernizing and digitalizing the economy.
In response to a question about Algeria's stance on the oil market, Tebboune emphasized that the country, as a responsible player, has not shown any "rash behavior." He indicated that if there is a consensus among oil-producing countries, Algeria will adhere to it. This statement suggests that Algeria is committed to cooperation within the oil market.
Tebboune reiterated Algeria's positions on its foreign policy, stating that the country will not compromise its relationships with Russia, America, or China. He emphasized that Algeria has its own "prowess and free decision-making." This reaffirmation of Algeria's independent foreign policy stance aims to reassure both domestic and international audiences.
The President's media appearance provided insights into the government's priorities and strategies for addressing economic challenges. Tebboune's emphasis on preserving purchasing power, diversifying revenues, and advancing digitalization reflects the administration's focus on promoting economic stability and growth. As Algeria navigates the complexities of the global economy, the government's commitment to these objectives will be closely watched.
Key points
- President Abdelmadjid Tebboune emphasizes Algeria's commitment to preserving citizens' purchasing power.
- The country aims to strengthen non-hydrocarbon revenues to achieve financial stability.
- Algeria has reached an advanced stage in digitalization, contributing to economic growth.
