Speaking during his regular media interview with the representatives of the national press, broadcast Saturday evening on national television and radio channels, the President of the Republic emphasized that the growth rate would surpass the 3.8 percent forecast by the International Monetary Fund (IMF) for the current year in its latest report, adding: "According to the studies we have carried out, the growth rate will be between 4.01 and 4.02 percent."

President Tebboune emphasized that Algeria’s economic growth rates rank among the highest in the Mediterranean and exceed those of some European countries, noting that projects launched in recent years will generate foreign currency and boost foreign exchange reserves.

In this regard, the President of the Republic said that ongoing efforts are set to secure a "steady annual income" of no less than USD50 billion in foreign currency, thanks to the automotive industry, mining, the integration of steel into national industry, and the integration of electronic chips into the manufacture of locally made electrical and household appliances.

He further highlighted that these sectors and others will be "streams" of national income, and that, under current conditions, foreign exchange reserves "will remain at an acceptable level" until at least 2031.

In this respect, President Tebboune said that Algeria is seeking to increase non-hydrocarbon revenues, while stressing that hydrocarbons will remain important, particularly as exploration and prospecting efforts and the drive to attract "leading" international companies continue.

He noted that industry will be one of the cornerstones of the national economy and that regulating imports will help preserve foreign currency, especially as the public authorities, he said, are working to strengthen the national economy across all sectors.

President of the Republic

National economy to grow by 4.01 to 4.02 percent annually