- Algerian President Abdelmadjid Tebboune has announced that Algeria proposes to seriously pursue economic reforms to facilitate economic recovery and promote the industry.
- He added that a strong industry sector is vital for comprehensive and sustained national development.
Algerian President Abdelmadjid Tebboune has announced that Algeria proposes to seriously pursue economic reforms to facilitate economic recovery and promote the industry. He added that a strong industry sector is vital for comprehensive and sustained national development.
Tebboune was speaking at the opening ceremony of the National Conference on Industry Recovery in the capital Algiers. The conference focussed on establishing a strategic vision for the industrial sector by mobilizing the relevant actors around the goals of the economic revival. The main challenge for the Algerian government is to boost the sector’s contribution from the current 5% to the GDP to 15 percent in the short term. Algerian economy is heavily dependent on hydrocarbons. Developing the economy will need a profound transformation and diversification by way of moving away from hydrocarbons. A recent report of the International Monetary Fund pointed out that many sectors with growth potential remained untapped.
