The recent erratic statements from President Trump are beginning to seriously erode the major global trade balances. The multiple repercussions, which visibly affect all countries, are thus not without consequences for Algeria’s economic situation—a fact of which the government is fully aware, particularly regarding oil prices that seem to be resuming their yo-yo cycle. It bears repeating that our economy remains heavily dependent on the oil windfall from the energy development hubs of the southern fields. Such surprises could unfavorably impact the comprehensive development momentum currently underway in the country.
In this regard, it is worth emphasizing that the pragmatic and insightful approach of the President of the Republic places significant importance on the integrated development of the Saharan regions—not solely in terms of hydrocarbon extraction, even though this constitutes the lion’s share of our foreign currency earnings. In fact, the overarching vision of the presidential development program relies on a colossal investment effort in the oil and gas industry, intended to act as a catalyst for industrial growth in the South, particularly through the mining industry, and the emergence of a high-performing Saharan agriculture capable of contributing to the country’s food security. In this sense, the vast desert expanses offer a wide field of opportunity, waiting to be harnessed by the remarkable reserves of well-trained local human talent eager to contribute their share to building the new Algeria. The South, with its fabulous fossil wealth, stands as Algeria’s El Dorado, complemented by significant investment opportunities in solar energy, which holds a bright future. Furthermore, the timeless magic of the desert is increasingly attracting both domestic and foreign tourists, though in an eco-responsible manner, rather than through a predatory approach that disregards the country’s customs and traditions
Thus, in his visionary approach, President Tebboune is dedicating all his energy to achieving, in the near future, a diversified economic system that gradually reduces the dominance of hydrocarbons to a level that shields the new Algeria from fluctuations in oil and gas prices—and, more pointedly, from the temperamental swings of certain global powers intent on reshaping the world map in their own image.
El Moudjahid
