President Tebboune’s Economic Diversification Plan Gains International Media Focus
President Abdelmadjid Tebboune's commitment to fostering a diversified economy with a stronger focus on national production, articulated during his recent meeting with economic actors in Algiers, has garnered considerable interest from various international media outlets. The Wednesday meeting, followed by extensive coverage on Thursday, showcased Algeria's strategic initiatives to enhance its economic resilience and independence.
Italian news agency Agenzia Nova highlighted Algeria's ambition to achieve a more robust and diversified economy by 2027, noting President Tebboune's discussion of recent progress and public authorities' industrial and agricultural objectives. The report emphasized a gradual transition from a managed to a free economy, while maintaining the state's social role. Agenzia Nova also cited figures presented by the President, including a reduction in imports by 40 to 42 billion dollars and 84 percent national coverage of medicine needs through local production. Additionally, the agency pointed to goals of achieving grain self-sufficiency by 2027 and developing national industries. Separately, Russian news site Pravda.ru noted this as the third national meeting between the President and company heads in three years, reflecting a direct interaction channel to ensure the country's financial security and calling on economic actors to contribute to building a competitive economy capable of withstanding global fluctuations.
Brazilian-based English electronic newspaper The Rio Times specifically featured President Tebboune's announcement of Algerian car production by the end of 2028. The newspaper detailed that this objective is based on cooperation programs with German and Italian partners, aiming to integrate locally manufactured components, particularly gearboxes and wheels. President Tebboune was quoted stating that if plans proceed with German and Italian partners, Algeria would achieve an Algerian car by the end of 2028, featuring Algerian gearboxes and wheels, representing a commitment that will be realized.
Overall, foreign media outlets have converged on the ambitious goals expressed by Algeria in diversifying its economy, boosting national production, and reducing reliance on imports. These efforts are viewed as part of a broader trajectory toward a more productive economy, less dependent on hydrocarbons.
