ALGIERS- Algeria has the material and human capacities to overcome the economic crisis and achieve high growth rates within two years, said President of the Republic, Abdelamdjid Tebboune.
In an interview with national media officials, broadcast, Friday evening, on public television and radio, Tebboune said that “the national economy which has remained dependent on the hydrocarbons for more than thirty years now has great capabilities that leave us optimistic. ”
Referring to these capacities, the President of the Republic put forward, in particular, Agriculture which generates more than 25 billion USD, the equivalent of oil revenues.
This sector is capable of generating high added value if it succeeds in integrating the manufacturing industry, estimated President Tebboune, recalling his decision supporting investors wishing to carry out projects based on local raw materials by bank loans up to 90% of the value of the project.
== Saharan Agriculture capable of satisfying national needs in sugar and oil =
Believing that Saharan agriculture can help reduce the import bill, Mr. Tebboune said that the Ministry of Agriculture is currently working to expand cereal crops to the southern regions in order to reduce imports from 20 to 30%.
“We will indeed get there by the end of this year,” he said.
He also highlighted the capacities available for the crops used in the production of oil and sugar in these regions so as to meet all national needs.
In addition, the President of the Republic affirmed that Algeria plans to exploit important untapped natural resources, in particular rare minerals, recalling, in this respect, that it occupies the 3rd or 4 place in the world in terms of gold , diamond, uranium, copper reserves and many others.
Referring to plans to launch the exploitation of these natural resources, Tebboune said “that instructions were given to the Ministry of industry to establish an accurate inventory of these riches.”
For President Tebboune the exploitation of these unexploited minerals is a necessity in the sense that local energy consumption increases to a rate such that oil wealth will, in a few years, be insufficient to meet national needs.