The government’s plan of action to implement the program of the President of the Republic, Mr. Abdelmadjid Tebboune, which will soon be presented to Parliament after its approval during the last Council of Minister, proposes a series of reforms in order to implement economic recovery and renewal, within a comprehensive perspective based on encouraging investment and diversifying sources of financing.
According to the government’s plan of action document, which devoted an entire chapter to economic recovery and renewal, the most important axes of the economic reforms to be implemented are to strengthen the pillars of economic recovery, develop sectors that contribute to development and economic growth, adopt a commercial policy in favor exports outside hydrocarbons, promote employment and combat unemployment through an economic approach, as well as developing basic support facilities.
With regard to the axis of strengthening the pillars of economic recovery, the government led by Prime Minister, Aïmene Benabderrahmane intends to maintain the balance of public finances and encourage economic growth through modernizing the banking and financial system, reforming the public commercial sector, the governance of public institutions, improving the attractiveness of the investment climate, upgrading the framework for the development of enterprises and entrepreneurship, and promoting the integration of informal sector within the legal channels, developing economic real estate and improving its exploitation, strengthening knowledge economy, research, development and innovation, as well as accelerating the achievement of digital transition and the development of startups.
As for the development of sectors contributing to development and economic growth, the government action plan seeks to strategically develop the energy and mining sector, as well as the energy sector in order to ensure a successful transition and better energy security, through the development of renewable and new energies, the implementation of the energy efficiency policy and the implementation of an ambitious national plan for hydrogen, especially the green one and adopting a new energy model based on the energy mix and supporting the energy transition.
The plan also includes in its economic part an axis devoted to ways of developing sectors that contribute to development and economic growth and the development of promising industrial branches, especially the agriculture and fishing sectors, in order to achieve better food security, and the revival of the pharmaceutical industry, for better health security, as well as the development of tourism sector and the economy of culture.
As for the third axis of economic recovery and renewal, it is devoted to setting a trade policy in favor of exports outside hydrocarbons, by valuing national production, rationalizing imports, strengthening export capabilities, promoting exports, facilitating the export process, updating and developing trade agreements for free exchange as well as modernizing and strengthening the control tool.
With regard to promoting employment and combating unemployment through an economic approach, the government’s action plan focuses on supporting the development of micro-enterprises and small and medium-sized enterprises, developing competencies, aligning training with employment, and supporting the creation of activities.
As for the last axis related to the development of basic support facilities, the government will work to develop basic facilities to support information and communication technologies, develop basic logistical facilities and water resources sector for better water security, as well as developing the partnership between the public and the private sector.