The Algerian government will strengthen its economic diversification policy to achieve 7% growth by 2019, said the Algerian Prime Minister Abdelmalek Sellal in an interview on the 6th January to APS news agency.
“In 2015, we plan to accelerate political transformation and diversification of our economy by relying on the 2015-2019 Five-Year Plan and a framework of consultation and dialogue according to the National Economic and social growth pact, signed with the employers and the social partners in February 2014,” said Sellal.
The Algerian Prime Minister also said that the government’s goal is to turn the national economy towards production and wealth creation to achieve an annual growth of 7% and to maintain the downward trend of the unemployment rate which has already decreased from 29.8% in 2000 to 9.8% in 2014.
The Prime Minister has also recalled that the budgetary and financial policy pursued for over a decade had consolidated macro-economic indicators, particularly in terms of external debt and foreign exchange reserves, to allow Algeria to attain “a considerable margin of economic labour”.
The diversification of the Algerian economy responds to the need to reduce the country’s dependence on oil, whose price has fallen considerably in recent months.
In Algeria, hydrocarbon revenues represent 96% of the country’s external revenues.