Algeria’s economy is demonstrating “strong” resilience, particularly due to sustained growth outside the hydrocarbon sector, according to the Governor of the Bank of Algeria, Salah Eddine Taleb. Speaking on Friday, October 17, 2025, Mr. Taleb highlighted the central bank’s policies aimed at bolstering the capacity of Algerian banks to finance economic activity as a key factor contributing to this resilience. The statement underscores a positive outlook for the Algerian economy amidst global economic uncertainties.
The Governor emphasized the ongoing efforts to diversify the Algerian economy away from its reliance on oil and gas revenues. This diversification strategy is proving effective, with non-hydrocarbon sectors experiencing consistent growth. Key areas targeted for diversification include agriculture, manufacturing, and services, with the government actively promoting investment and entrepreneurship in these sectors.
Mr. Taleb also pointed to the proactive measures taken by the Bank of Algeria to strengthen the financial sector. These measures include enhancing the capital adequacy of banks, improving risk management practices, and promoting financial inclusion. By strengthening the banking sector, the central bank aims to ensure that Algerian businesses have access to the financing they need to grow and create jobs. The focus on empowering banks to fund economic initiatives is viewed as a crucial element in sustaining economic momentum.
Furthermore, the Governor addressed Algeria’s progress in strengthening its anti-money laundering and counter-terrorism financing (AML/CFT) framework. He noted the significant strides made in aligning Algeria’s legal and regulatory framework with international standards. These efforts are aimed at protecting the Algerian financial system from illicit financial flows and ensuring its integrity. Enhanced AML/CFT measures are not only crucial for maintaining financial stability but also for attracting foreign investment and fostering international cooperation. This commitment to financial transparency and security is a vital part of Algeria’s broader economic strategy.
The Algerian Ministry of Finance is also playing a critical role in supporting economic growth and stability. Through fiscal policies and structural reforms, the ministry is working to create a more favorable business environment, attract foreign direct investment, and promote sustainable development. The combined efforts of the Bank of Algeria and the Ministry of Finance are contributing to a more resilient and diversified Algerian economy, positioning the country for sustained growth in the years to come. The focus remains on creating a stable and attractive environment for both domestic and international investors, fostering long-term economic prosperity.
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