Algerian President Abdelmadjid Tebboune stressed that his country has embarked on deep and structural reforms to correct imbalances in the economic field, by improving the investment environment, enhancing foreign trade, encouraging initiatives, adopting digitalization and reforming monetary policy, in a way that responds to the requirements of economic transformations in the world, stressing the need to redraw the country's foreign trade map, in accordance with national interest and geopolitical challenges in the world.
This came during his participation in the "Best Exporter Award 2023" celebration, Thursday, in Algiers, in the presence of the Speakers of the two chambers of parliament, the Chief of Staff of the Algerian Army, and the Prime Minister of Algeria.
He explained that the Algerian economy was able to overcome difficulties thanks to the insistence on mobilizing the country's capabilities, and harnessing efforts to revive the economy to achieve an advanced growth rate, estimated at 4.2 percent, so that the Algerian economy jumped to third place in Africa, and the GDP reached 260 billion dollars, with foreign exchange reserves rising to 70 billion dollars, in addition to recording unprecedented figures in the field of exports outside hydrocarbons, which approached the threshold of 7 billion dollars.
He added that "the positive indicators recorded in many sectors allow us to say that the reform train is heading in the right direction towards developing the economy and diversifying its sources, advancing on the path of engaging in global value chains, and reaching more than $400 billion in GDP by the end of 2027.
He noted that his country's vision for economic recovery was based on the need to harness all the energies of the nation, from producers and exporters, to make the 2020-2030 vision for foreign trade policy a success, which aims to reach $29 billion in 2030, as non-oil exports, by focusing on investment in promising economic sectors, especially agriculture, heavy industries, manufacturing industries, pharmaceutical industry, mining, and the tourism and services sector.
The Algerian President pointed out that the "Ghar Djebilet" mine project, which will rank Algeria among the largest countries with iron reserves in the world, in addition to the phosphate and zinc projects, and major strategic projects with a continental dimension, such as the road linking the city of Tindouf, Algeria, and Zouerate, Mauritania, and the Trans-Sahara Road project linking Algeria and Lagos, Nigeria, to enter the African market forcefully by linking Algerian ports in the north with the African depth of the continent, to form a major axis for developing trade exchanges and various economic activities.
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