Physical Address
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The national economy revived
Ranked 3rd in Africa
The ceremony of the second edition of the President of the Republic’s Prize for the best exporter, which he chaired at the Abdelatif-Rahal International Conference Center (CIC), gave President Abdelmadjid
Tebboune took the opportunity to take stock of the Algerian economy, which has risen to third place in Africa, he noted. The President of the Republic indicated that Algeria had undertaken “deep and structural reforms to correct the dysfunctions noted in the economic field, through the improvement of the business climate, the promotion of foreign trade, the encouragement of initiatives, the adoption of digitalization and the reform of monetary policy, thus meeting the requirements of economic changes on a global scale.”
Notwithstanding the constraints arising from the Covid-19 pandemic, the President of the Republic continued, “we have managed to overcome the difficulties and, thanks to God and the mobilization of the country’s capacities and the intensification of efforts to revive the national economy, we have been able to achieve a growth rate of 4.2%.” This rate is considered “one of the best growth rates in the Mediterranean,” according to the President of the Republic, who specified that the GDP had reached $260 billion and foreign exchange reserves $70 billion. President Tebboune mentioned non-hydrocarbon exports, which recorded “unprecedented” figures approaching $7 billion, considering that these data “confirm our full entry into a policy aimed at freeing our national economy from the burden of dependence on hydrocarbons.”
These positive results concretely reflect “the strong will to win the bet of the strategic choices that we have adopted, in accordance with the commitments that we have made,” he maintained. And to add: “In light of the green indicators recorded in several sectors, we can today say with confidence that the reforms undertaken are moving resolutely towards the development of the national economy and the diversification of its sources, which will make it possible to join the global value chains and achieve a GDP of more than 400 billion dollars by the end of 2027.” The President of the Republic indicated that “the economic renaissance underway in our country calls for the continuation and intensification of efforts and the strengthening of this national economic process through measures complementary to the achievements made.” The President of the Republic took the opportunity to thank the young people for their efforts in creating Start-ups.
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