Algerian President Abdelmadjid Tebboune recently addressed various economic, social, and international issues in an interview with national press representatives. The discussion covered topics such as salaries, purchasing power, economic growth, investments, and corruption. On the social front, President Tebboune reaffirmed his commitment to increasing salaries in 2027, with the increments to be included in the upcoming year's budget. He stated that the raises could be implemented in one or two phases, depending on the available resources.
President Tebboune emphasized that preserving purchasing power remains a priority, particularly through efforts to combat speculation and practices that impact prices. He attributed the rise in certain product prices to "the greed of those who profit from the situation," describing them as "parasites." The government plans to take necessary measures against these practices. Additionally, the President discussed the consequences of the summer's wildfires, which affected several provinces. He reported that compensation for those affected was approximately 1200 billion centimes.
On the economic front, President Tebboune expressed optimism about the country's growth, predicting that it would exceed the International Monetary Fund's forecasts. He estimated that the national economy's growth rate would be between 4.01 and 4.02%. The President also mentioned the possibility of Algeria's GDP reaching $400 billion by the end of 2026 or early 2027. This growth is attributed to the dynamics of investment, with thousands of projects underway nationwide, and the valorization of several sectors' potential.
President Tebboune highlighted various sectors that would contribute to increased foreign exchange earnings, including the automotive industry, mining, iron transformation, and local production of electronic components. The goal is to achieve a stable annual income of at least $50 billion in foreign currency. Hydrocarbons are expected to remain significant, with ongoing exploration efforts and attempts to attract major international companies. The President assured that foreign exchange reserves would remain at an acceptable level.
The President announced that a decree would be signed to organize a single-window system, aiming to better identify project land needs and promote a more balanced distribution of investments across provinces. He also discussed the integrated phosphate project, with the related railway line's work expected to be completed by the end of the year. Furthermore, President Tebboune mentioned the extension of the Annaba port, scheduled for delivery by the end of the first quarter of 2027.
President Tebboune emphasized the importance of involving Algerian expatriates in the country's development. He stated that the creation of the High Council for the National Scientific Community Abroad aimed to tap into the expertise of Algerian scientists worldwide. These experts could collaborate with local researchers in areas such as water desalination, agriculture, mining, hydrocarbons, solar energy, industry, and space research. The President expressed his desire to leverage the experience of Algerian expatriates for the country's benefit.
President Tebboune advocated for comprehensive and integrated development, ensuring that public policies benefit the entire population. He mentioned strategies for 2030 and 2050, aiming to establish long-term development. On the political front, he stated that dialogue with parliamentary parties remains open and encouraged young people to participate in local elections. The President also defended measures to facilitate youth participation, including financing their campaigns to limit the influence of money in the electoral process.
Key points
- Algerian President Abdelmadjid Tebboune commits to increasing salaries in 2027.
- The President predicts economic growth of 4.01-4.02% and a potential GDP of $400 billion by 2027.
- President Tebboune emphasizes the importance of involving Algerian expatriates in the country's development.
