Algeria’s positive economic indicators make it gateway to Africa under African-Russia partnership

In a statement to the press, on the sidelines of his participation as the representative of the President of the Republic Abdelmadjid Tebboune, in the works of the 2^nd Russia-Africa Summit and its Economic and Humanitarian Forum,  Aïmene Benabderrahmane said that “the visit, last June, of President of the Republic Abdelmadjid Tebboune to Russia enabled the signing of a thorough Algerian-Russian partnership statement and gave the bilateral relations a great impetus, setting Algeria up as a gateway to enter Africa.”

“We are working on this approach implemented by President Abdelmadjid Tebboune and his Russia counterpart, in order to move forward in the implementation of an in-depth partnership, knowing that Algeria is Russia’s second commercial partner in Africa,” he added.

Among the economic indicator recorded by Algeria, the Prime minister cited the increase in the individual income to USD4,800, with a gross domestic product (GDP) of USD255 billion and a record growth rate that could reach more than 5% in 2023, in the absence of foreign debts.

He said that this was achieved thanks to the economic dynamic that Algeria is experiencing, in the context of measures taken by the State and the role of the new law on investment which enabled adopting projects whose value exceeds USD7.2 billion, resulting in the creation of 50,000 jobs.

The Prime minister visited the stand of Algeria as part of the international fair orgnaizd on the occasion of “Africa-Russia” Summit and its Economic and Humanitarian Forum.

During his discussions with the participating economic operators, Benabderrahmane stressed the importance of investment in various sectors, by taking advantage of the potentials offered by the national economy, notably in the field of services.