Algerian Radio
President Abdelmadjid Tebboune has emphasized that Algeria’s economic indicators have reached a positive and "irreversible" level of development. He underscored the necessity of sustaining this momentum by further diversifying the economy and boosting non-hydrocarbon exports.
During his periodic media interview with national press representatives, broadcast Saturday evening on national television and radio channels, the President explained that the upcoming phase is centered on achieving a "genuine economic transformation." This shift is based on maximizing the value of national resources beyond the hydrocarbon sector, particularly through the development of processing industries, increasing value-added, and job creation.
From Slogans to Reality: The Export Surge
President Abdelmadjid Tebboune noted that economic diversification has "become a reality today" after being "merely a slogan for decades." He pointed out that the competitiveness of various industrial sectors has provided a strong impetus to non-oil exports.
The President revealed that Algeria aims to reach between $8 billion and $9 billion in non-oil exports annually. He highlighted that several sectors—including household appliances, steel, and food industries—are seeing increased demand in international markets, shifting Algeria from a major importer to a competitive exporter.
Furthermore, he praised the ambitious goal set by the Algerian Economic Renewal Council (CREA) to reach $30 billion in non-hydrocarbon exports by 2030, noting that such targets will significantly bolster the State’s financial stability.
Financial Reforms and the Transition to Digitalization
Addressing financial transparency, the President noted that Algeria’s reforms have been commended by the Financial Action Task Force (FATF/GAFI). He stated that the organization expressed "satisfaction with Algeria's progress," with expectations that the country will be removed from the "Grey List" once the necessary procedures are finalized.
On the topic of e-payment and billing, the President clarified that the transition from a cash-based to an electronic system must be "gradual." He warned that a cash-heavy economy facilitates the entry of counterfeit currency, citing instances where forged bills from certain countries were used to purchase Algerian livestock. He emphasized that "hoarding money outside the banking system" prevents the detection of such forgery.
Strategic Mining and the Integrated Phosphate Project
A key pillar of Algeria’s new economic model is the prohibition of exporting raw mineral ores. The President affirmed that resources like phosphate, iron, zinc, and agricultural products must be processed locally to create wealth and strengthen the national industrial fabric.
He specifically highlighted the Integrated Phosphate Project at Bled El Hadba in the East. This massive industrial hub, which includes units for concentration, phosphoric acid production, fertilizers, ammonia, and urea, is set to provide a "large number of jobs," effectively "ending unemployment" in the region.
Future Exploration and National Vision
While diversifying, Algeria is also boosting its hydrocarbon production to meet future demographic shifts. President Abdelmadjid Tebboune announced major projects in offshore exploration and new drilling initiatives in the Southern Wilayas.
The President concluded by stressing that the integration of 250,000 university graduates annually into the economy is vital for building a productive system based on initiative. He reiterated that the expansion of mining projects and railway lines toward the South is not a matter of coincidence, but a "national vision" and a fulfillment of his electoral commitments.
