Kamel Moula, President of CREA: “Economic Reforms Decided by President Tebboune Have Begun to Bear Fruit”
✏️ BY: Dr. Hana Saada
Algiers- Algeria, May 4, 2024 – The Algerian Economic Renewal Council (CREA) lauded the positive impact of economic reforms spearheaded by President Abdelmadjid Tebboune, highlighting their significant contribution to the national economy’s positive trajectory.
Kamel Moula, President of CREA, commended the effectiveness of the economic reforms initiated by the President, noting that they have begun to yield tangible results. Moula’s remarks came in response to President Tebboune’s speech delivered on Wednesday at the People’s Palace, in front of unionists from the General Union of Algerian Workers (UGTA) and representatives of independent national unions, on the occasion of International Workers’ Day.
During his address, the President highlighted the substantial achievements and positive outcomes attained by the national economy in recent years, positioning it as the third-largest economy in Africa.
Moula emphasized the role of these reforms in diversifying the national economic activity, particularly in the industrial sector. He stated that upcoming structural projects in processing industries and the service sector would not only create numerous job opportunities but also reduce the country’s dependency, especially in strategic sectors.
Additionally, Moula recalled the unlocking of 900 investment projects, resulting in 22,000 direct jobs, indicating that these projects reflect a clear commitment to overcoming bureaucratic obstacles.
The President of CREA noted that President Tebboune’s speech emphasized the renewed focus on economic development and reaffirmed the state’s social character. Moula highlighted the significance of choosing May 1st and the UGTA headquarters for disseminating messages on the recent economic policy orientations.
Among the noteworthy messages, Moula highlighted the return to robust and resilient growth, evidenced by positive growth rates despite the global recession caused by the Covid-19 pandemic. He cited the growth rate of 4.2% recorded for 2023 as confirmation of this positive trend, emphasizing the positive performance of various macroeconomic indicators.
Moula praised the President’s commitment to continue economic transformation, noting that the business climate is increasingly favorable due to reforms in investment legislation, financial and banking sectors, and land accessibility.
He also underscored the importance of digitization in simplifying administrative processes and ensuring the country’s alignment with modernity.
Moula concluded by commending the coherence and methodical approach evident in the President’s speech, noting a clear alignment between words and actions, commitment, and concrete results. He expressed optimism about the future of all sectors, citing encouraging figures and messages revealed by the President.
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