Algerian President Abdelmadjid Tebboune has expressed optimism about the country's economic prospects, forecasting growth between 4.01% and 4.02% for 2026. This projection surpasses the International Monetary Fund's (IMF) prediction of 3.8% for the year. Tebboune made these statements during his periodic interview with the press, which was broadcast on national television and radio on Saturday evening.
The President also anticipates that Algeria's GDP could reach $400 billion by the end of 2026 or early 2027. He attributes this potential growth to the dynamic investment climate, with thousands of projects underway across the country, and the valorization of several sectors. Tebboune even suggests that Algeria could exceed the $400 billion mark, citing the IMF's own projections.
Tebboune's economic forecasts are based on studies conducted by Algerian authorities, which he claims provide a more accurate picture of the country's economy than international institutions. He argues that these institutions lack comprehensive data on Algeria's economy, leading to imprecise predictions. The President is confident that Algeria's growth rate will be one of the highest in the Mediterranean region, surpassing that of some European countries.
The President also discussed Algeria's revenue in foreign currency, which he expects to stabilize at around $50 billion annually. This projection is based on ongoing projects in industries such as automotive, mining, and electronics. Tebboune emphasized that hydrocarbons will continue to play a significant role in Algeria's economy, with ongoing oil exploration and efforts to attract major international companies.
Tebboune highlighted the importance of industry as a key driver of Algeria's economy. He noted that the country is working to reduce its import bill, citing the example of school supplies, which were previously largely imported. The President is confident that Algeria's foreign exchange reserves will remain at an acceptable level until at least 2031, thanks to import regulation and other measures.
The President's economic vision is built around diversification and reducing reliance on hydrocarbons. He cited the development of industries such as automotive and electronics as key areas of focus. Tebboune also emphasized the importance of attracting foreign investment and promoting economic growth through infrastructure development and other initiatives.
Algeria's economic prospects have improved in recent years, driven by a combination of factors, including increased investment and a growing private sector. The country's economy has also benefited from a rebound in hydrocarbon prices and a series of reforms aimed at promoting economic diversification and improving the business climate.
Key points
- Algerian President Abdelmadjid Tebboune forecasts economic growth between 4.01% and 4.02% for 2026, exceeding IMF predictions.
- The President anticipates that Algeria's GDP could reach $400 billion by the end of 2026 or early 2027.
- Tebboune expects Algeria's revenue in foreign currency to stabilize at around $50 billion annually.
