Bouteflika: “Algeria Faces A Difficult Financial Crisis That Needs A Renaissance”

President of the Republic, Abdelaziz Bouteflika, alrted, on Friday, the state’s organize, by asking them to be keen on ensuring the good purchasing power of workers, the conditions of needy citizens, control the market to protect consumers from the hell of speculation and the depletion of their income which leads to the deterioration of the living standards, at the time when he considered that the financial difficulties that are experienced by Algeria are due to the external factors that made it victim of an economic crisis that is shaking the developed countries.

Boueflika explained that the “radical” and “sustainable” success to overcome the financial crisis in Algeria requires a strong renaissance in many sectors, and describe the measures that are taken by the government of the Prime Minister, Abdelmalek Sellal, as good, and praised its effectiveness in facing Algeria’s financial crisis in Algeria .

In a message that is marking the day of the 61st anniversary of the foundation of the General Union of Algerian Workers and the 46th anniversary of the nationalization of hydrocarbons,which was read on his behalf by the adviser of Presidency of the Republic, Mohamed Ali Boughazi, during the official ceremonies that were hosted by Djelfa province (southern Algeria), Bouteflika asserted: “This renaissance will rebuild the path of a diversified national economy that is free from the dominance of hydrocarbons, through diversifying capabilities of Algerian agricultural, tourism, mining, industry and other sectors.”

Bouteflika described the current situation as “A battle , which is called by a national duty, as the workers are the shield of Algeria and its example to strengthen Algeria’s national and social choices that are inherited from the glorious revolution, and which become at the heart of the national constants. “

He explained, through the same statement, the Algerian financial situation, which he considered uncomfortable and difficult, saying: “You realize that our country is today the victim of an economic crisis that hits the developed nations due to the decline in oil prices, and the volatility of the international market, despite our initiatives that allowed recently to improve the price of oil very slightly”.

“If the causes of the current financial difficulties of Algeria are of an external origin, it may have, at the same time, the effects and consequences on the pace of development. We were able to reduce its danger, thanks to the good measures that we have taken in the recent years. The state should continue and accelerate the implementation of the national programs for reforms in various economic and administrative fields. The state should also bring more coherence between its keenness to ensure the purchasing power of workers and to ensure the good conditions for the needy citizens, control the market and protect consumers from the hell of speculation and the depletion of their income, which may lead to the deterioration of living standards. “

“We have to win the battle of production, producing and competitiveness to ensure the entry of Algerian goods to the foreign markets”.

“We need to develop our view of fair national capitalism and fair partnership as strategic partners of foreign workers in the construction of economic progress, and then accept comfortably the necessary reforms in order to improve investment conditions in the country.”

“This is a quantum leap that stopped us today to ensure the future of the country’s economy and development, a shift that requires not to listen to the dogmatic theses, and pessimistic speeches.”

President Bouteflika launched an appeal that he described as “the call of hope” and announced alerts and warnings saying: “This is a call to hope in the capabilities of Algeria, an appeal to withstand the waves of the current financial crisis, a call to reflect on the sacrifices of the ancestors to go out again victorious over our financial conditions that are currently difficult”.