Speaking during his regular media interview with representatives of the national press, broadcast Saturday evening on national television and radio channels, the President of the Republic said that "a GDP worth USD400 billion is achievable by the end of 2026 or in the first quarter of 2027, and that the figure could even be surpassed, as confirmed by the International Monetary Fund."

He attributed this performance to "the investment momentum reflected in thousands of projects across the country and to the tapping of the potential of many sectors," adding that the growth rate achieved by the national economy exceeds those recorded in some European and Mediterranean countries.

President Tebboune said that this momentum also stems from renewed investor confidence in the national economy, owing to the investment climate and the incentives provided by the State, highlighting the need to build up capacities and to leverage these advantages in a rational and seamless manner.

In this regard, the President of the Republic emphasized that a decree organizing the one-stop shop would be signed in the coming days "in a way that makes it possible to identify the investment project and the land it requires," and thereby "achieve a balanced distribution of projects among the provinces."

He further noted 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 the national industry, and the integration of electronic chips into the manufacture of locally made electrical and household appliances.

Similarly, President Tebboune underscored 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 further noted that everyone, including the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), attests that Algeria is "a responsible country with no record of recklessness in the oil market, and that if there is a consensus, Algeria will abide by it to help ease the impact of events that cause fluctuations in the global oil market."

Regarding the price increases recorded for some goods, the President of the Republic said they stem from the greed of certain traders, especially those who benefit from subsidies, adding that the State is pressing ahead with reinforcing citizens' purchasing power by combating speculation, particularly in subsidized goods.

Additionally, President Tebboune highlighted the emergence of several economic operators who sought to circumvent the rules to obtain foreign currency through import operations at the expense of the national economy, affirming that the State will keep a close watch on such "parasitic practices" and will take the necessary legal measures once investigations are completed.

He also addressed the major structuring projects that will help bolster the national industrial fabric, in line with the public authorities’ strong determination to diversify exports beyond hydrocarbons.

In this regard, the President of the Republic cited the current school year, which proceeded with locally produced school supplies that were imported until a few years ago, adding that the country is witnessing a development drive on all fronts.

As regards the integrated phosphate project, President Tebboune stressed the significance of the progress made in developing this resource, pointing to progress on the construction of the railway line linked to the project, which should be finished by the end of this year "at the latest," with the possibility of "gaining a month or two, since technical trials are due to wrap up in late October."

On the Annaba port expansion, which forms part of the integrated phosphate project, the President of the Republic said work is moving fast enough to save time, with delivery expected by the end of the first quarter of 2027, especially as the Chinese company will begin installing phosphate export equipment this week.

President of the Republic

State to spare no effort to protect citizens' purchasing power