Ambassadors seek “official answers” about Algeria’s financial crisis

The ministries of industry, commerce and finance have beaten the record by in receiving European and Asian ambassadors. This comes as the government took new measures to reduce imports bill. Questions were raised among Algeria’s partners including the European Union (EU) which showed reserves.

A number of European and Asian ambassadors increased the number of their visits to ministries. More than 25 visits were paid in less than two months, Echorouk has learnt.

The ambassadors wanted more information about the government’s new measures relating to industrial zones project revision, industrial real-estate, investment advantages and cars assembly plants projects.

Earlier in May, Prime Minister Abdelmadjid Teboune held a meeting with a representative of the EU. He said the government’s measures aim at achieving three main axes which are part of Algeria’s economic strategy pillars.

The axes are: imports bill optimization, the protection of national products and consumers. 

According to Teboune, those measures will not affect Algeria’s commitment to the implementation of agreements with the EU.

He proposed the principle of free trade through parallel partnership. This would concretize joint investment projects in Algiers which would have mutual benefits for Algeria and the EU. 

According to the same sources, the ambassadors’ visits to the finance minister were meant to sound the ground about Algeria’s financial situation as oil incomes decreased.

This shows that the EU is still concerned about Algeria’s choice to reduce imports bill.