Algiers Stock Exchange Value Rises Over 42% Amid Economic Efforts
Algeria anticipates a 4% economic growth, with President Tebboune noting significant investment progress following legislative revisions. The Algiers Stock Exchange market value also recorded an increase of over 42%.
Kamal Moulla, President of the Algerian Economic Renewal Council, has announced a strong economic growth forecast for the nation, anticipating a 4% increase. This positive outlook coincides with Algeria's ongoing efforts to strengthen its economic sovereignty. Moulla's projections indicate a continuation of positive growth indicators, surpassing a previously recorded rate of 3.8%.
Reinforcing this economic momentum, President Abdelmadjid Tebboune highlighted substantial progress in investment following recent revisions to legislation. The President noted that current indicators for non-hydrocarbon gross domestic product (GDP) demonstrate the country's focused initiatives toward economic diversification.
Further underscoring Algeria's robust economic performance, the Algiers Stock Exchange has recorded a significant increase in its market value, rising by over 42%. The Commission for Organizing Stock Exchange Operations and their Control (COSOB) acknowledged the Algerian financial market's growing capacity, affirming its adaptability to the needs of economic institutions.
