Al Jazeera Podcast: President Tebboune voices on private investments, foreign exchange reserves, internal growth, per capita income, African integration projects
BY: Hana Saada
ALGIERS- President of the Republic, Abdelmadjid Tebboune told Al Jazeera Podcasts that the private sector represents 85% of Algerian capital, since more than 1,300 investors are waiting to obtain a license before starting their activities”.
He added that the value of investments in the private sector is expected to exceed $30 billion by 2027. The business sector will create 55,000 jobs within 18 months.
Foreign exchange reserves at 64 billion dollars
“Algeria is also increasing employee salaries 3 times, although the world is suffering from an economic recession,” said the President of the Republic, recalling that “Algeria’s foreign exchange reserves have now reached 64 billion dollars.”
“For the first time in four decades, Algeria’s non-hydrocarbon exports exceeded 7 billion dollars,” underlined President Tebboune, who specified that “Algeria recorded internal growth of 4.3%”.
President Tebboune indicated that “the inflation rate is about 9%, and Algeria is a social country par excellence, and it will continue the policy of subsidies,” specifying that “the level of per capita income in Algeria exceeds more than twice the per capita income of neighboring countries”.
President Tebboune indicated that “Algeria has four African integration projects”. The first project concerns fiber optics with the countries of Niger and Nigeria, the second concerns the gas pipeline from Nigeria, passing through Niger and Algeria, to reach Europe. The third concerns gas exploration in Niger and the last one concerns a railway linking Algiers to Bamako and Niamey.
