Algerian President Abdelmadjid Tebboune has reaffirmed his commitment to increasing salaries, starting from 2027, as part of efforts to preserve the purchasing power of citizens. During a recent interview with national press representatives, the President emphasized the state's dedication to protecting the interests of its citizens. He also highlighted the importance of combating speculation and illicit practices that affect the economy.
The President provided an update on the compensation provided to those affected by recent wildfires in several regions of the country. He stated that the value of the indemnities paid out was approximately 1.200 billion Algerian dinars. The President also stressed that maintaining purchasing power and combating speculation are top priorities, with citizens at the heart of the country's development.
President Tebboune addressed the recent increase in prices of certain products, attributing it to the greed of some traders, particularly those who benefit from subsidies. He assured that the state is working to preserve the purchasing power of citizens by combating speculation, especially on subsidized products. The President also warned against practices that harm the national economy.
The President discussed the issue of operators trying to circumvent regulations to obtain foreign currency for import operations, which harms the national economy. He vowed that the state would remain vigilant against such "parasitic practices" and take necessary legal measures once investigations are completed. President Tebboune also mentioned that the recent wildfires had contributed to a decrease in the availability of certain products.
The President reaffirmed his rejection of illicit speculation, revealing that initial investigations showed that most farmers were not responsible for the price hikes. He emphasized that such practices constitute a "crime against the people" and that the government would take action against them. President Tebboune warned that anyone who harms the people will be considered as harming him personally.
President Tebboune expressed optimism about Algeria's economic prospects, citing a projected GDP of $400 billion by the end of 2026 or early 2027. He attributed this growth to the dynamic investment climate and the valorization of several sectors. The President also highlighted the importance of reinforcing capacities and rationalizing the use of advantages.
The President announced plans to sign a decree organizing a one-stop shop for investment projects, aiming to identify project needs and facilitate the allocation of land. He also mentioned that ongoing efforts would guarantee a stable annual income of at least $50 billion in foreign currency through various industries. Key projects, such as the phosphate integrated project and the extension of the Annaba port, are underway to strengthen the national industrial fabric.
Key points
- President Abdelmadjid Tebboune reaffirms commitment to salary increases starting from 2027
- Algeria aims to achieve a GDP of $400 billion by 2026 or 2027
- The state is working to combat speculation and illicit practices affecting the economy
