Algerian President Abdelmadjid Tebboune announced that his country has recovered $30 billion of looted funds, reiterating his refusal to resort to borrowing.
اضافة اعلان
In a speech at the Ministry of Defense, Tebboune mentioned that European countries have pledged to assist in recovering additional sums of money stolen during the rule of the late President Abdelaziz Bouteflika.
He added: “Spain returned a hotel to us that had been purchased with laundered money, and there is an agreement with other European countries to provide assistance.”
He also emphasized that combating corruption has spared the Algerian economy from collapse, noting that counterfeit imports reached $62 billion, and stressed the importance of maintaining the social character of the state.
Tebboune pointed out that Algeria now has economic and tourist appeal, with investors from different continents interested in investing in the country. He expressed hope that the industrial sector could contribute between 12% and 13% to the national GDP.
He also addressed Algeria’s economic indicators, which, in his view, have earned praise from international and regional financial institutions, ranking the country among the strongest economies in Africa with a growth rate of no less than 3.9%, the highest in the Mediterranean region.
Tebboune reiterated that Algeria, a major participant in the BRICS Bank and the African Development Bank, refuses to resort to borrowing despite requests from these institutions to finance large projects.
He added: “We will become an emerging country on the level of nations with a national income of $400 billion or more annually.”
