Hommam Al Nassim 
Algeria is aiming to maintain its economic growth rate at 4.2% achieved last year, with GDP expected to rise by the end of 2026 to $400 billion.
Algerian President Abdelmadjid Tebboune said in an interview with media broadcast on Saturday evening that the government was working to reduce inflation, which currently ranges between 7% and 8% to 4%.
He revealed that the secret of the increase in the budget (about $ 110 billion for 2024) is employment and the launch of major projects in public works, water, and other sectors. Investment is ongoing and the projects launched are the base that will help increase wages by boosting production, he said.
Algeria “will invest and produce more in natural gas”, Tebboune said, stressing that the world still needs gas.
Two days ago, the International Monetary Fund said Algeria’s outlook was generally positive in the near term, but inflation remained a concern.
Algeria’s economy is estimated to grow 4.2% in 2023 thanks to a recovery in hydrocarbon production and strong performance in the industrial, construction and service sectors, the IMF said in a statement issued Friday.
After concluding its discussions with Algeria under Article IV of its founding agreement, the IMF said that Algeria’s real growth is expected to remain robust this year, at 3.8%, supported in part by large fiscal spending.
Algeria’s medium-term economic outlook depends on efforts to diversify the economy and the ability to attract private investment, which faces various risks, the IMF said.
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