Algeria's Tebboune disputes IMF economic forecasts

Algerian President Abdelmadjid Tebboune has contested forecasts from the International Monetary Fund (IMF) regarding the country’s economic trajectory. The IMF predicts a significant decline in Algeria’s foreign exchange reserves, estimating they will drop from approximately 51 billion dollars in 2025 to 19.8 billion dollars by 2031. The Fund also anticipates a reduction in import coverage from 8.6 months to 3.3 months during that period.

Tebboune dismissed these projections as mere predictions, asserting that Algeria will maintain high reserves and avoid debt. He stated that the nation aims to achieve sustainable annual foreign currency revenues of at least 50 billion dollars by diversifying the economy through mining, the automotive industry, and the local production of iron and electronic chips.

Furthermore, the President expects Algeria’s economic growth to reach 4.01% or 4.02% in 2026, surpassing the IMF’s estimate of 3.8%. He projected that the national GDP could reach approximately 400 billion dollars by late 2026 or early 2027, driven by increased investment and the exploitation of national resources.