Algerian President Abdelmadjid Tebboune recently held a periodic meeting with national press representatives, where he addressed various economic concerns and reassured citizens of the government's efforts to protect their purchasing power. With prices rising, Tebboune emphasized that the government will play a regulatory role to mitigate the impact of inflation on citizens' livelihoods. He attributed the price surge to the alleged involvement of the market parallel mafia.
During the meeting, Tebboune responded to questions about the country's foreign exchange reserves, stating that efforts are being made to boost non-hydrocarbon revenues. He expressed optimism that reserves will be at a high level by 2031, driven by increased and diversified exports. This financial upturn is expected to improve citizens' living standards and strengthen state coffers. Tebboune stressed that this is not just about accumulating foreign currency but also about achieving independence.
The President discussed Algeria's progress in digitalization, citing significant advancements in economic, commercial, and administrative exchanges. He highlighted the government's focus on developing this sector to enhance efficiency and transparency. Algeria aims to leverage digital technologies to drive economic growth and improve public services.
Tebboune addressed concerns about the global oil market, particularly tensions in the Middle East, and reassured that Algeria will not take unnecessary risks. He emphasized that the country will align with any consensus reached among major producers, underscoring Algeria's responsible stance within OPEC and as a non-OPEC producer. This approach reflects Algeria's commitment to stability in the global energy market.
On foreign policy, Tebboune reiterated Algeria's commitment to maintaining strong relationships with major powers, including Russia, the United States, and China. He emphasized that Algeria values its independence and decision-making freedom, guided by the principles of the Non-Aligned Movement. This approach allows Algeria to navigate complex global dynamics while safeguarding its sovereignty.
The President touched on regional issues, including the attempted coup in Niger and terrorist threats in the Sahel. He revealed that Algeria deployed military aircraft to Niger to counter the coup attempt, which occurred while the Nigerien Prime Minister was visiting Algeria. Tebboune viewed this as a provocation against Algeria, demonstrating the country's vigilance in addressing regional security challenges.
Tebboune concluded by emphasizing the government's resolve to address economic challenges and protect citizens' interests. He urged various stakeholders, including farmers, to assume responsibility for their actions and contribute to preserving the purchasing power of Algerians. The government's efforts aim to ensure a stable and prosperous future for the nation, addressing both domestic and international factors that impact the economy.
Key points
- Algerian President Abdelmadjid Tebboune reaffirms government's commitment to protecting citizens' purchasing power amid rising prices and economic concerns.
- Tebboune emphasizes efforts to boost non-hydrocarbon revenues, aiming to increase foreign exchange reserves by 2031.
- Algeria maintains strong relationships with major powers, including Russia, the US, and China, while prioritizing independence and decision-making freedom.
