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President Tebboune: Economic growth expected to reach 5% in 2023

President Abdelmadjid Tebboune said Thursday that foreign exchange reserves were exceeding 60 billion dollars while the economic growth was 4.1% in 2022 and was expected to reach 5% in 2023.

In his speech at the opening of the government-walis meeting at the Palais des Nations (Algiers), President Tebboune referred to the indicators and positive results reached during the last three years, thanks to the development strategy put in place and to “the participation of the walis in the resolution of problems that hindered companies, for bureaucratic reasons or legal loopholes.

Among the results that have enabled the creation of “a clear economic and social dynamic” in Algeria, the President of the Republic quoted “the reduction of the import bill from 36 billion USD to 38 billion USD against 63 billion USD per year in the past because of overpricing and the dilapidation of public funds”.

“We have succeeded in reducing imports without depriving the citizen” of various needs, President Tebboune stressed, assuring that “there is no longer any disguised import”.

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