President Tebboune Maps Out 2027 Economic Transformation

President Abdelmadjid Tebboune has unveiled a new phase in Algeria’s economic restructuring, setting out a comprehensive roadmap for 2027 and beyond. Addressing economic operators in Algiers, the President highlighted 2027 as a pivotal year for national economic transformation, with a central focus on strengthening domestic manufacturing, reducing import dependence, and reforming investment frameworks. This strategic shift aims to transition the national economy towards a more free model, while the state remains committed to its social responsibilities, ensuring a smooth transformation without abrupt economic or social shocks.

The President noted significant progress in reducing imports, which have reportedly decreased by an estimated $40 billion to $42 billion. This reduction includes the cessation of petrol and aviation fuel imports, with the new Hassi Messaoud refinery expected to eliminate diesel imports upon its 2027 commencement. Furthermore, domestic pharmaceutical production now covers approximately 84% of national demand, including complex medicines for diabetes and cancer. The industrial sector's contribution to the Gross Domestic Product has increased by 10%, while agriculture contributes about 15%. The government is also prioritizing investments in edible oil and sugar production, alongside an objective to achieve grain self-sufficiency by the end of 2027.

To bolster investment, a national one-stop shop is scheduled to become operational on January 1, 2027, coinciding with the implementation of the 2027 Finance Law. This initiative follows revisions to the legal and regulatory framework, which have already led to the registration of over 13,000 investment projects. A key industrial ambition is the production of an Algerian-made car by the end of 2028, incorporating substantial locally manufactured components such as engines, gearboxes, bodies, and wheels, with anticipated cooperation from German and Italian partners. New factories are also planned for Tissemsilt and Batna, and the national railway network is slated for extension towards Tamanrasset by the end of 2028. President Tebboune also directed the finance minister to engage with the World Bank and International Monetary Fund to review and update their data on Algeria's economic indicators.