President Tebboune’s Strategic Priorities: Economic Revitalization, National Sovereignty

BY: Dr. Hana Saada

Algiers, Algeria | October 6th, 2024 — In a decisive interview with representatives from national media, President Abdelmadjid Tebboune has reaffirmed his strategic priorities, emphasizing economic revitalization as a cornerstone for enhancing Algeria’s resilience against the vicissitudes of the global economy. This commitment highlights the administration’s vision for a robust economic framework that not only sustains national stability but also paves the way for a genuine democratic process.

Building a Solid Economic Foundation

President Tebboune articulated that the establishment of a robust economy is a necessary precursor to fostering true democracy in Algeria. He stated, “We are on the right track,” underscoring the significant strides already made in reform processes. This assertion reflects a renewed confidence in the country’s capability to rehabilitate its international image across economic and social spectrums.

The president’s discourse encapsulated his administration’s determination to create job opportunities while enhancing citizens’ purchasing power amidst ongoing inflationary pressures. His specific target of reducing inflation from the current rate of 7% to 5% is indicative of his commitment to stabilizing the national economy. Moreover, he reiterated plans to restore the value of the Algerian dinar, signifying a strategic move toward economic self-reliance.

Ensuring Food Sovereignty

A salient theme in President Tebboune’s address was the critical issue of food sovereignty. He stressed the importance of bolstering national production capacities, particularly for durum wheat and barley. While acknowledging Algeria’s current reliance on food imports, he asserted, “Food sovereignty is not a myth. Countries like the United States and those in Europe are also not fully independent in terms of food production. We must focus on what we can produce.”

The president emphasized the urgent need to develop domestic agricultural capabilities to secure Algeria’s food supply against international market fluctuations. He declared, “We have the means to increase our production of durum wheat,” illustrating a strong commitment to national agricultural development. Tebboune’s declaration that Algeria aims to cover 80% of its durum wheat needs by 2024 is a clear strategic objective, with an optimistic vision of reaching 100% through enhanced agricultural investment and expertise.

Combatting Economic Malpractices

In addressing the issues of economic integrity, President Tebboune highlighted the imperative of ensuring product availability and combating the twin scourges of smuggling and speculation, which he noted have escalated in recent years. He vowed to intensify control measures with the support of the People’s National Army, stating, “I point my finger at the easy-money lobbies that undermine the stability of the country.”

The establishment of free trade zones with neighboring countries is poised to enhance trade transparency and compatibility, marking a significant step in Algeria’s regional economic strategy. President Tebboune announced that the free trade zone with Mauritania is under development, with plans for similar initiatives with Tunisia and Libya forthcoming.

Digital Transformation for Economic Transparency

In a broader context, President Tebboune reiterated Algeria’s commitment to enhancing intra-African trade through the African Continental Free Trade Area (AfCFTA). He emphasized the role of digitization, which is gaining momentum in economic sectors, particularly customs, in ensuring traceability and transparency in trade activities. This digital transformation is essential for streamlining export processes and fostering a more organized economic environment.

In closing, he remarked, “I do not import oil or other products with foreign currency while domestic producers export them. We are ready to support any exporter as long as they meet the needs of the national market.” This statement encapsulates President Tebboune’s vision for an economically self-sufficient Algeria, underscoring his commitment to nurturing local production while fostering a transparent and fair market environment.

Through these strategic initiatives, President Tebboune is not only positioning Algeria to withstand global economic fluctuations but also laying the groundwork for sustainable development and national sovereignty.

 

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