Algerian President Abdelmadjid Tebboune addressed the nation's economic concerns during his periodic press conference, broadcast on Saturday evening. He emphasized his administration's dedication to enhancing the living standards of citizens. Tebboune pointed out that salary increases will be disbursed starting from 2027, as outlined in the upcoming year's finance law. This move aims to alleviate financial burdens on the populace.
The President expressed his discontent with the recent surge in prices of essential goods, citing "greed" as the primary factor behind this trend. He described those taking advantage of the situation as "parasites." Tebboune acknowledged that the July wildfires, which affected several central and eastern provinces, had reduced the availability of certain products. However, he stressed that this circumstance does not justify the extent of price hikes witnessed in the market.
Tebboune highlighted the state's support for farmers, including assistance with electricity, water, and fertilizers. According to initial investigations, most farmers are not responsible for the price increases. The President asserted that those accountable for the hikes will be held responsible. He also downplayed the notion that such price surges are unprecedented, stating that Algeria has experienced similar situations over the past sixty years.
In response to the escalating prices, Tebboune has instructed the government to take decisive action against speculators. He assured citizens that prices will decrease, with tangible results expected soon. The President emphasized that protecting purchasing power and combating speculation are top priorities, with the citizen at the forefront of the development process.
The Algerian government has initiated controls on markets to curb speculation. Following directives from Minister of Domestic Trade Amel Abdelatif, local authorities have intensified inspections. These efforts, supported by police and gendarmerie, focus on wholesale markets, verifying product arrivals, prices, and profit margins. Particular attention is being given to the price regulation of potatoes.
Tebboune's commitment to salary increases was reiterated during the press conference. He confirmed that the remaining 53% of salary hikes will be implemented from 2027. The corresponding budget will be included in the next year's finance law. The President expressed hope that, if conditions permit, the increases will be applied in a single tranche; otherwise, they will be implemented in two stages.
The government's proactive measures aim to mitigate the economic strain on citizens. With the implementation of salary increases and the crackdown on speculation, authorities hope to restore stability to the market. The President's emphasis on citizen welfare underscores the administration's resolve to address pressing economic concerns and promote sustainable development.
Key points
- Algerian President Abdelmadjid Tebboune has pledged to increase salaries from 2027 and combat price hikes, attributing the latter to speculators' greed.
- The government has launched market controls to curb speculation, focusing on wholesale markets and verifying product prices and profit margins.
- Tebboune's administration prioritizes protecting purchasing power and promoting citizen welfare amidst economic challenges.
