Economic Priorities Awaiting PM Nadir Larbaoui
Activating economic diplomacy, supporting exports to foreign markets, attracting foreign investments, and enhancing Algeria’s attractiveness in the economic and commercial field, in addition to advancing the file of digitization and social support and implementing new legislation on the ground, are the seven economic priorities awaiting Prime Minister Nadir Larbaoui, who will assume the new position at the head of the executive branch.
The economic expert and former member of the Finance and Budget Committee of the National People’s Assembly, el-Haouri Tighersi, told “Echorouk” that the President of the Republic, Abdelmadjid Tebboune, appointed as a new Prime Minister who has previously held an ambassadorial portfolio several times during his career, suggests the importance of economic diplomacy during the next stage to bring in investment projects, encouraging exports, allowing Algerian products to enter more foreign markets, signing partnership agreements in various sectors, and amending existing treaties according to what serves the Algerian economy.
FLN MP Tighersi added that “the new Prime Minister, Nadir Larbaoui, is among the most important people who know the secrets of the executive apparatus, under his assuming the position of Director of the Office of the President of the Republic during the last period, which will facilitate his task in advancing several pending files, or those that did not achieve the expected results during the last months, such as generalizing digitization, attracting local and foreign investment, reviving the financial and banking sector, and further increasing exports outside of hydrocarbons”.
According to Tighersi, the new Prime Minister has a political and economic orientation at the same time, which will push forward some files in the coming months, especially those related to economic diplomacy, such as reviewing the European and Arab differential agreements, activating the African partnership, signing heavy investment contracts, and bringing giant institutions to enter the Algerian market with the transfer of expertise, experience and technology.
The economic expert Mourad Kouachi believes that important and heavy files await the new Prime Minister, including digitization, which the President of the Republic, Abdelmadjid Tebboune, attaches great importance to, as some sectors have not yet achieved the results required in this field. Kouachi also talked about the selective social support program, the issue that the President of the Republic raised three years ago, and no concrete steps have been taken so far.
“The new Prime Minister is also supposed to focus on controlling markets, ensuring price stability, good supply, and moderate purchasing power, eliminating the black market, in which the amounts traded are estimated at $90 billion, eliminating the phenomenon of middlemen, controlling inflation rates, and ending the black market for hard currency exchange in Algiers Port Said Square and other parallel points for selling currency as well”, he added.
The expert explained that “achieving economic diversification and breaking the connection with hydrocarbons are among the most important priorities that await Prime Minister Nadir Larbaoui through the implementation of economic legislation previously approved by Parliament, including the investment law, public transactions, loans, cash, and field free zones, and attracting new investments, especially foreign ones, noting that the largest example of a foreign partnership recorded during the recent period is the Fiat factory with an Italian partnership, calling for an increase in the number of these important projects during the next stage with the Italians, Turks and Chinese”.
The spokesman considers that “reviving the Algerian Stock Exchange, revitalizing it and reviving it to push investments in Algeria, is one of the most important challenges awaiting the head of the new executive branch so that the latter plays the same role that Arab and foreign stock exchanges play in the economies of their countries”.
For his part, economic expert Kamal Dib confirms that changing the Prime Minister and choosing PM Larbaoui to head the executive branch, who is also a diplomatic figure with a reputation in the field of foreign affairs, suggests the importance of the next stage and the size of the files on the table today, the most important of which is the economic digitalisation, and the attempt to diversify the Algerian economy and bring direct investment and thinking about improving the purchasing power, creating wealth, and developing exports outside of hydrocarbons.
