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Algerian economy shows progress
President Abdel Madjid Tebboune focused on the development and significant transformations of the Algerian economy since 2019, emphasizing that 2027 will be a pivotal year to achieve a strong economy that also considers social aspects. He noted that Algeria has reduced its imports by between $40 and $42 billion, and now produces 84% of its medication needs, including medications for diabetic and cancer patients. There has been substantial investment in the industrial and agricultural sectors, with agriculture contributing 15% to the gross domestic product and aiming for self-sufficiency in grains and other materials by 2027. He also highlighted major investment projects, such as the automotive industry, which aims to produce a fully Algerian car by 2028, and the opening of 13,000 real investment projects. The investment environment is being improved through the single-window system, set to be implemented in 2024. He affirmed that Algeria has the potential to reach its goal of exporting $30 billion by 2030, strengthen regional economic relations through road projects and desert crossing routes, and expressed his commitment to maintaining the social role of the state while continuing sustainable economic development smoothly.
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