Algerian President Abdelmadjid Tebboune addressed the nation on the rising prices of certain consumer goods, emphasizing the need to tackle the issue of purchasing power. During his periodic interview with national press representatives, broadcast on Algerian Television, Tebboune acknowledged that price increases for some products were understandable, but not for others. He cited the impact of last summer's forest fires on agricultural production in certain regions.
Tebboune attributed the sudden price hikes to "greed" and "speculation" by certain individuals who "profit from moments of inattention to emerge like parasites." He stressed that the state has provided significant support to farmers, including subsidies for electricity, diesel, water, and fertilizers. The president emphasized that while farmers should not incur losses, they should not excessively inflate prices. Algeria subsidizes 26 products, including five seasonal agricultural products.
The president insisted that price increases should not exceed 15-20% due to exceptional circumstances, but not 400%. He described the current situation as "a crime against the people." Tebboune noted that investigations have shown that most farmers are not responsible for the price hikes. He cited the example of tomatoes, which are sold by farmers at 20 Algerian Dinar (DA) and resold to consumers at 140 DA.
Tebboune made two key commitments: to take rigorous action against those engaging in speculative practices and to restore normal prices immediately. He instructed the government to take action, stating that prices would decrease starting October 5. The president emphasized that protecting citizens' purchasing power is a top priority, aiming to enhance it further by 2027.
The president also addressed concerns about the country's economic situation, cautioning against exaggerated claims. He disputed assertions that Algeria has not experienced such price hikes in 60 years, citing historical examples of high prices for certain goods. Tebboune recalled that during difficult times, citizens have shown understanding and emphasized that spreading misinformation is not helpful.
Tebboune accused certain parties of attempting to create instability by fueling discontent among citizens. He warned that these efforts would fail, as they are based on a lack of understanding of the Algerian people and their reality. The president expressed confidence that citizens would see through these attempts and remain united.
The government's efforts to address the issue are ongoing, with Tebboune confirming that action will be taken against those responsible for price speculation. The president's statements have been met with attention from various sectors, including farmers, businesses, and citizens, who are eagerly awaiting the implementation of measures to restore stable prices and protect purchasing power.
Key points
- Algerian President Abdelmadjid Tebboune denounces speculation on prices of essential goods as a "crime against the people."
- Tebboune vows to take action to restore normal prices and protect citizens' purchasing power.
- The president instructs the government to take action, stating that prices would decrease starting October 5.
