Hadef Highlights President Tebboune’s Vision for Economic Transformation Unveiled During Key Meeting with National Press

BY: Dr. Hana Saada

Algiers, Algeria | October 6th, 2024 — In a recent meeting with the national press, President Abdelmadjid Tebboune articulated a compelling vision for a transformative societal project aimed at positioning Algeria among the emerging countries by 2030. Abderrahmane Hadef, an economic development advisor, emphasized during his interview on the first channel of Algerian Radio’s “Guest of the Morning” program that President Tebboune’s remarks unveiled a comprehensive strategy focused on elevating the living conditions of citizens while strengthening the nation’s economy.

Commitment to Structural Reforms

Hadef underscored President Tebboune’s renewed commitment to advancing structural reforms across both economic and social sectors. These reforms are designed to enhance social benefits, meet the daily needs of citizens, and improve essential services such as transportation, healthcare, and education. A crucial element of this initiative is the enhancement of citizens’ purchasing power, which is vital for fostering economic growth and improving overall quality of life.

The advisor noted that President Tebboune envisions Algerians as active partners in the development process. This involvement will necessitate revising municipal and state laws to prioritize local development, thereby serving as a fundamental driver of both economic and social progress.

A New Economic Model

Hadef articulated the necessity of establishing a new economic model rooted in diversity, which is critical for achieving the goal of emerging country status by 2030. Central to this model is a pronounced emphasis on the industrial sector, which President Tebboune has identified as essential for economic diversification. The President has set an ambitious target to increase the national industrial sector’s contribution to the GDP from approximately 5% to over 10%.

Agricultural and Service Sector Initiatives

Within this ambitious framework, the agricultural sector is positioned to play a pivotal role in achieving significant self-sufficiency in vital areas, including grains and meat. Hadef indicated that substantial investments are anticipated in this sector in the coming years, which will not only bolster food security but also enhance rural economies.

Furthermore, President Tebboune’s vision encompasses a strong push for the digital economy, aiming for its contribution to reach 5% of the GDP—still below the global average of 15% and the over 40% contribution seen in the Chinese economy. The services sector is also slated for significant development, complementing ongoing strategic projects in the extractive industries.

Strategic Projects and Economic Diversification

Hadef pointed out that the government is actively pursuing diversification through strategic projects across various sectors, including extractive industries. Key initiatives include the “Gara Djebilat” mining project, phosphate extraction in Boukhadra Mountain, and a zinc project in Oued Amizour. Additionally, the hydrocarbons sector is experiencing renewed dynamism, further contributing to Algeria’s economic aspirations.

Through these comprehensive initiatives, President Tebboune aims to construct a robust and diversified economy that not only enhances Algeria’s standing on the international stage but also ensures a more prosperous future for its citizens by 2030. By fostering participation, prioritizing investment in key sectors, and implementing structural reforms, the President seeks to create a sustainable economic environment that meets the aspirations of Algerians and positions the country for success in the years to come.

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