Algeria’s Trade Balance: “A Surplus Of Over USD 17 Billion Expected At The End Of The Year”
The trade balance surplus should exceed 17 billion dollars by the end of 2022, Prime Minister Aïmene Benabderrahmane said on Sunday in Algiers.
“The trade balance recorded a surplus of 14 billion dollars at the end of August and we expect a surplus of more than 17 billion dollars at the end of 2022”, Benabderrahmane specified in a speech delivered at the end of the Government-Walis or Governors meeting held at the Palace of Nations on the western suburbs of Algiers.
According to the Prime Minister, the value of non-hydrocarbon exports reached $4.4 billion at the end of August and is expected to reach $7 billion by the end of 2022.
The foreign exchange reserves have recently recorded “a marked increase, exceeding the expected rate”, indicated Benabderrahmane who recalled the international reports of the various authorities according to which the exchange rate of the national currency the Dinar shows a notable improvement.
In view of these positive indicators, “the beginnings of economic recovery are starting to appear”, reassured the Prime Minister who affirmed that the “ambitious development” program initiated by the President of the Republic Mr Abdelmadjid Tebboune is currently materializing despite the difficult circumstances the country has gone through due to the repercussions of the crises that have affected the world over the past two years.
He attributed the improvement in the performance of the macro-economy to “the wisdom of the President of the Republic in the management of the affairs of the State through the revitalization of the sectors which serve as a catalyst for economic growth with political tools as control tools of imports.
The Prime Minister affirmed that the foreign trade policy currently adopted aims to “regulate and rationalize imports and not curb them, contrary to the allegations of certain malicious parties”.
This will promote “the protection of the national product so that we establish a developed agricultural and industrial fabric constituting the cornerstone of a solid national economy guaranteeing the country its national security in its global sense”, argued the Prime Minister.
