[ecr] 

During the second presidential term, "we will confidently and resolutely raise the level of our ambitions to further improve economic performance and continue to encourage and expand the scope of national and foreign investments," said the President of the Republic in a speech delivered after his oath-taking at the Palace of Nations.

The President of the Republic underlined his commitments made during the electoral campaign of the presidential election of September 7, including notably the increase of GDP to USD400 billion, which will allow Algeria to be counted among the emerging countries.

The President of the Republic Abdelmadjid Tebboune pointed out that Algeria has achieved one of the highest growth rates in the Mediterranean region, a fact acknowledged and praised by relevant international and regional organizations. He stated that the goal for the coming years is to maintain a growth rate of around 4%.

In this regard, the President of the Republic emphasized the need to redouble efforts to diversify the economy and end the dependence on hydrocarbons, affirming that a target of USD15 billion in non-hydrocarbon exports had been set for his second term.

According to him, these levels of economic performance will be achieved through the strengthening of investments, especially as "Algeria's attractiveness in terms of investment is now tangible, thanks to the country's stability and the financial resources at its disposal".

Moreover, the Algerian Investment Promotion Agency (AAPI) has registered nearly 9,000 projects that aim to contribute to the creation of wealth and jobs, noted the President of the Republic, who committed to bringing the number of investment projects to 20,000 during his second term.

On the subject of start-ups, the President noted a significant increase from 200 to almost 8,000 companies during his first term. He set an ambitious target of reaching 20,000 start-ups by the end of his second term.

Referring to the industrial sector, the President of the Republic highlighted its importance in the Algerian economic fabric, recalling that it contributed to GDP at a rate of 19% in the 1970s, before declining to 3.5%.

After its increase to 5% during the first term, this rate will be brought to 12% by the end of the second term, he committed.

The President of the Republic also recalled the "megaprojects" currently being carried out in the mining sector, emphasizing the importance of the planned railway projects to connect the northern provinces to the extreme south, up to the province of Tamanrasset.

On the agricultural front, the President noted substantial progress, particularly in strategic crops that help reduce imports. He highlighted the importance of "establishing partnerships with friendly nations in key areas such as dairy and cereal production".

The President of the Republic said that Algeria will achieve self-sufficiency in durum wheat by the end of 2025 and in barley and corn in 2026, adding that irrigated areas will be expanded by nearly one (1) million hectares.

Regarding water resources, the President announced that five desalination plants will be operational by the end of this year, adding that future plants will be constructed using Algerian expertise.

According to the President of the Republic, projects for the interconnection of dams for the transfer of water from large dams to those recording low filling rates will be included in the 2025 finance law.

He also mentioned the possibility of carrying out large water transfer projects to reassure citizens about the availability of water resources.

President Tebboune reaffirmed his commitment to safeguarding citizens' purchasing power, outlining a strategy that includes combating inflation, controlling prices, and increasing allowances, salaries, and pension benefits.

He also committed to creating 450,000 jobs, building two (2) million housing units, and raising rural housing assistance to one (1) million Dinars during his second term.

 

In his speech, the President of the Republic also committed to definitively resolving the issue of grey areas during the first year of his second term. 

[/ecr]