Algerian President Abdelmadjid Tebboune recently discussed the country's progress in several key areas during an interview with national media representatives. The President touched on the nation's economic, social, and diplomatic developments, providing insights into the government's plans and achievements. He emphasized the country's solid economic foundations and its aim to reach a Gross Domestic Product (GDP) of $400 billion by the end of 2026 or early 2027.
According to President Tebboune, Algeria's economic growth is expected to exceed the International Monetary Fund's (IMF) forecast of 3.8%, reaching 4.01% to 4.02%. This growth is driven by thousands of investment projects, the launch of new mining projects, and advancements in the pharmaceutical and steel sectors. The President also highlighted the country's goal of achieving a stable annual revenue of at least $50 billion and reiterated his refusal to resort to external debt.
President Tebboune discussed the government's efforts to improve the standard of living and salaries, announcing that salary increases will be implemented starting in 2027. The government aims to finalize the remaining 53% of salary increases, which will be paid in one or two installments depending on the economic situation. The President also addressed the issue of price hikes, attributing them to speculators rather than farmers, and warned that those responsible will be held accountable.
The President provided updates on several major infrastructure projects, including the development of transportation networks, port structures, and desalination plants. He announced that the integrated phosphate project is progressing as planned, with the dedicated railway line expected to be completed by the end of the year. Additionally, the extension of the Annaba port is set to be completed in the first quarter of 2027.
President Tebboune highlighted the establishment of the Scientific Council of the Algerian diaspora, which aims to mobilize the expertise of Algerian scientists living abroad. The council will focus on key sectors such as hydrocarbons, mining, education, solar energy, industry, and space research. The President also emphasized the importance of digitalization in the country's development, citing its role in combating corruption.
The President discussed the recent forest fires, revealing that many were caused by human actions, and announced that the government will provide compensation to those affected. He also reported that 14 water bombers have been mobilized to combat the fires, and negotiations are underway with the US to acquire additional equipment.
On the diplomatic front, President Tebboune reaffirmed Algeria's commitment to maintaining strategic relations with countries such as Russia, the US, and China. He also addressed the recent rupture with the United Arab Emirates, citing known reasons for the decision. The President emphasized Algeria's sovereignty and its role as a responsible and predictable player in the international oil market.
Key points
- Algeria aims to reach a GDP of $400 billion by the end of 2026 or early 2027.
- The government plans to implement salary increases starting in 2027.
- Algeria maintains strategic relations with countries such as Russia, the US, and China.
