Pt Bouteflika Orders Government To Preserve Citizens’ Purchasing Power and To Counter speculation

President Abdelaziz Bouteflika on the occasion of World Labor Day celebrations called on local employers to bolster investment in all sectors, stressing that the State is determined to accompany all the efforts designed to promote national investment.

“The new challenges for local employers today, more than ever, are to beef up investments in all sectors of activity and expand it to all parts of our country,” the President of the Republic said in a massage read out on his behalf by Culture Minister Azzedine Mihoubi at a workers’ celebration event organized on Monday in Tiaret city (western Algeria).

President Abdelaziz Bouteflika underlined that “the State is determined to accompany efforts to upgrade national investment and investments in partnership, with its multidimensional support, and to further enhance the national economic environment”.

He pointed out that the developments, although insufficient, were “a source of hope for all of our people and a source of determination to deploy more efforts to overcome the current financial crisis caused by the collapse of oil prices and a determination to catch up with emerging countries across the world”.

He explained that Algeria “has the means to foster the developments it has to achieve, and has repeatedly reiterated this objective in recent times”.

Thus, Algeria added President Bouteflika “appeals to its people to do more in order to achieve genuine gains, stressing to this effect that the workers are again required to overcome this new challenge by pooling their efforts.”

This challenge, according to President Bouteflika’s message, requires “the maintenance of social peace within institutions and in all spheres of work so that efforts in the field of modernization of the instruments of production and progress in the reforms of the national economic environment will bear positive fruit”.

This challenge also calls for “improving our productivity and economic competitiveness so that our institutions will stand up locally to external competition and our national production will invade foreign markets,” the head of state underscored.

As the challenge demands from the public authorities more rigour, President Bouteflika says, “the Government must gear efforts to preserving the purchasing power of citizens by firmly addressing and stamping out all forms of speculation in the national market”.