2027 Key for Economic Shift
The President of the Republic, Abdelmadjid Tebboune, affirmed that the year 2027 will be a pivotal year in the transformation of the Algerian national economy. This will be achieved through strengthening local production and increasing exports outside the oil and gas sector, while maintaining the social character of the state. He anticipated significant economic improvements, with Algeria capable of reducing imports by up to $40-42 billion, ceasing the import of gasoline and jet fuel, and starting the operation of the new refinery in Hassi Messaoud in 2027. He also indicated that the percentage of locally manufactured pharmaceuticals has reached 84%, and that the industrial sector has been developed, with its contribution to the gross domestic product increasing by 10%. Additionally, self-sufficiency in grains and other materials is expected to be achieved by 2027. Tebboune projected that by the end of 2028, Algeria will be manufacturing an entirely Algerian-made car, with increased investments and job creation through investment projects, with a focus on boosting exports outside the oil sector and reducing reliance on imports.
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