Algiers — Algeria is set to become an emerging country on a par with the countries of southern Europe, probably in two years, the president of the Republic Abdelmadjid Tebboune said, stressing that the country was not in need of French development "aid," which "only serves French interests."
"God willing, maybe in two years at the most, Algeria will be an emerging country on a par with the countries of Southern Europe, with a GDP of more than 400 billion dollars," the president of the Republic said in an interview with the French magazine "L'Opinion."
"By early 2027 at the latest, we will have completed the construction of our plan of 3.5 million housing units -two million have been delivered so far-, we will have settled the water issue and we will have cut raw material imports for our plants. Our goal is to manufacture locally as many products as possible. We will be among the world's largest exporters of phosphates and derivatives. We will develop solar energy and produce green hydrogen, a new resource that will boost Algeria's industrial attractiveness."
This "will allow us to increase our capacity to provide energy to Europe," the president of the Republic said, adding that the country was improving food security and mobilising more water resources.
French development "aid": USD20 to 30 million per year for a yearly state budget of USD130 billion
In response to a question on the French development "aid" that would be granted to Algeria and on a possible abolition of this "aid," the president of the Republic said that any call to abolish this "aid" was simply a "profound ignorance of Algeria."
"It is around 20 to 30 million a year. The Algerian State budget is 130 billion dollars and we have no foreign debt."
The president said Algeria "funds 6,000 scholarships for African students every year, finances a road of more than one billion dollars between our country and Mauritania and has just written off 1.4 billion debts of twelve African countries."
The president of the Republic emphasized that Algeria does not need this "aid," which in reality only serves the interests of France.
"We do not need this money that serves primarily France's external influence."
Asked about the economic cooperation with China, the president of the Republic said "the Chinese are interested in many business sectors (in Algeria): from cutting-edge technology to electronics, including the digital field and lithium batteries as we possess this raw material."
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Chinese operators "have first come to build housing units to the great displeasure of French groups, like Bouygues," which were eyeing Djamaa El Djazair project, president Tebboune said.
"The Chinese offered the best bids and the shortest lead times. We are satisfied with their services."
The president of the Republic welcomed the cooperation with Italy, which "has always been a very reliable partner."
"Our Italian Friends are acting in good faith. We help each other and Italy strengthens its economic position every year."
Revision of EU Association Agreement: Exporting under preferential conditions
In response to a question on the reasons behind Algeria's request for revision of the Association Agreement with the European Union, the president of the Republic said the request was motivated by the desire of the country, which has a diversified industrial output, to see its exports enter the European market on preferential terms.
"Our export ambitions are growing stronger. In 2005, we had hardly any production outside hydrocarbons. Today, we have domestic industrial production."
"All household appliances are Algerian. our agriculture, according to the FAO, yields 37 billion dollars a year. We export market garden produce to Tunisia, Mauritania and the Middle East. The agreement should be revised to give our agricultural and steel products access to the European market on preferential terms," the president of the Republic said.
