30th March 2024. IMF welcomes Algeria’s commitment to economic reforms.

The IMF welcomed, in a press release, Algeria’s commitment to economic reforms and budgetary sustainability, while emphasizing the “robustness” of economic performance recorded in 2023. In its communiqué relating to the final conclusions of the 2023 consultations with Algeria under Article IV of the Fund’s Articles of Agreement, published on its website, the IMF Executive Board approved the delegation’s assessment which carried out its mission last December, to which the officials of this international institution welcomed “the commitment of the Algerian authorities to reforms, in particular efforts aimed at stimulating investment, improving budgetary transparency and coping with risks linked to corruption. Furthermore, the institution estimates that the growth of Algeria’s economy was 4.2% in 2023, driven by a rebound in hydrocarbon production and strong performance in the industry, construction and services sectors. The IMF forecasts GDP growth of 3.8% in 2024 and 3.1% in 2025. Regarding inflation, it should slow down according to the IMF, in particular thanks to the fall in prices of fresh food products. The IMF estimates that inflation should begin its downward curve from 2024, falling to 7.6% before gradually falling to 5.5% in 2027. Read more.

International Monetary Fund building

1st April 2024. New measures introduced to ease business for auto-entrepreneurs.

On 1st April, the Auto-Entrepreneur National Agency (ANAE) announced a series of new measures designed to simplify life for auto-entrepreneurs. Individuals registered as auto-entrepreneurs are now exempt from registering with the commercial registry; they can open commercial bank accounts more easily and receive 100% of the proceeds from exporting their services in foreign currency. As a result, autoentrepreneurs now need only three documents to open a bank account: A copy of their auto-entrepreneur card; a copy of an identity document; and a copy of their proof of address. Read more.

1st April 2024. The 23rd edition of the International Tourism and Travel Exhibition (SITEV)

New compensation system for transporting widely consumed products to southern wilayas. A new system to compensate companies for transport costs incurred when supplying widely consumed products to southern wilayas has been introduced via an executive decree published in the Official Journal. Transport costs will be reimbursed for companies that carry out supply activities and that only supply the wilayas in which they are established. The measures apply to the wilayas of Adrar, Tamanrasset, Tindouf, Illizi, Bechar, Ouargla, El Oued, Ghardaïa, El Bayadh, Naâma, Timimoun, Bordj-Badji-Mokhtar, Beni-Abbès, In Salah, In Guezzam, Touggourt, Djanet, El Meghaïer and El Meniaâ. Read More.

SITEV logo

6th April 2024. Workshops on the Energy Transition.

The huge Algerian potential under debate. The National Agency for the Promotion of Research and Technological Development Results (ANVREDET) will organize “Brainstorming Workshops” on the 24th
-25th of the current month. This scientific event will see the participation of representatives of several official institutions. The organizers of the event underline in the argumentation announcing this event that “Algeria launched its energy transition more than 10 years ago through a national program of renewable energies and energy efficiency which targeted an installed capacity of 22 000 MWp”.
Read More.

7th April 2024. Installation of the national payments committee of the Bank of Algeria.

More accessible financial services. The National Payments Committee (CNP) responsible for developing the draft of the national strategy for the development of written means of payment for the strengthening of banking transactions and financial inclusion was installed on the 6th April 2024 at the headquarters of the Bank of Algeria (BA). In his speech during the investiture of the CNP, the governor of the Bank of Algeria, Salah Eddine Taleb, underlined the “importance” of the CNP in the achievement of the public authorities commitment, namely the modernization and activation of the financial system with a view to responding to current challenges and strengthening the expansion and development of financial inclusion in Algeria. Read More.

8th April 2024. Sonatrach Group and Total Energies sign memorandum

Sonatrach Group and Total Energies signed on Monday 08th April 2024, in Algiers, a memorandum of understanding aimed at bolstering their partnership and developing hydrocarbon resources in the northeastern region of Timimoun.
“Sonatrach and Total Energies signed a memorandum of understanding marking the parties’ desire to consolidate their partnership and expand their cooperation,” stated the press release. This memorandum of understanding is part of “the prospect of carrying out a work program aimed at assessing and developing the hydrocarbon resources of the North-East region of Timimoun, in synergy with the existing processing facilities in the region,” added the same source. Read More.

Sonatrach Group and Total Energies sign memorandum

10th April 2024 Oran: The 25th International Crafts Fair in May.

The Ministry of Tourism and Crafts is organizing the 25th edition of the International Crafts Fair at the “Mohamed Benahmed” Convention Centre from 23rd to 27th May in Oran, according to a press release from the ministry.
This event includes “a rich program of exhibitions of various products of traditional Algerian crafts with foreign participation, which will offer the opportunity to benefit from the exchange of experiences and encourage innovation, and to allow the marketing of the products of participating artisans”, according to the same source. For more information and registration of participants from inside and outside the country, please visit www.siat2024.dz. Read More.

10th April 2024. GIE electronic banking.

Launch of the interoperability of mobile payments during the year 2024. The interoperability project between the different players in mobile payment, a mode which allows transactions to be carried out from smartphones, knows “acceptable” progress and will be operational during the current year, indicated the administrator of the Monetic Economic Interest Group (GIE monétique), Assia Benchabla Queiroz. “We are quite advanced in the deployment of mobile payment (m -payment). The electronic payment GIE has specified its operating plan and each bank is required to acquire its own solution. Available in recent years at two banks as well as Algeria Post, mobile payment solutions in Algeria are currently only usable between customers of the same bank, but with the launch of interoperability, transactions can be carried out even if the bank of the issuer (the payer) is different from that of the beneficiary. According to the administrator of GIE monétique, the Company for the Automation of Interbank and Monetic Transactions
(Satim) has already acquired the solution ensuring interbank payments, which will be put into service this year. Read More

14th April 2024. AAPI: more than 400 new land bases proposed from next week.

The Algerian Agency for Investment Promotion (AAPI) plans, from next week, to propose more than 400 new state-owned land bases, spread across 25 wilayas, for the benefit of investors for the realization of economic projects, announced Sunday in Algiers, the CEO of the Agency, Mr. Omar Rekkache during a speech at a ceremony organized by the AAPI at the headquarters of the National Housing Bank (BNH). The
AAPI will “progressively”, through the investor’s digital platform, offer no less than 424 land bases for the benefit of investors, with a total area more than 320 hectares, specified the CEO of the Agency. These land bases will be offered “per waves” across 25 wilayas, including 10 wilayas which did not benefit from the previous land offer, namely: Laghouat, Skikda, Médéa, Ouargla, Bordj Bou Arreridj, Ain Defla, In Salah,
Ghardaïa, Tissemsilt and El Tarf. Read More.

14th April 2024. AAPI: 6,600 projects registered until the end of March.

The Algerian Agency for Investment Promotion (AAPI), recorded until the end of last March, 6,600 investment projects declared with a value of nearly 3,200 billion DA, stated Sunday in Algiers, the AAPI CEO, Mr. Omar Rekkache, affirming that this figure will double in the future thanks to the abundance of economic land. The CEO underlined, moreover, the commitment of the AAPI to continue its efforts to simplify the procedures and facilitate the act of investment, through the continuous improvement of the investor’s digital platform services. Read More

AAPI headquarters

15 April 2024. Algeria signs Hosting Agreement for Intra-African Trade Fair 2025.

PM chairs signing ceremony of agreement to host 4th IATF in Algiers in 2025. Prime Minister Nadir Larbaoui chaired Monday the signing ceremony by the Algerian government and the African Export-Import Bank (Afreximbank) of the agreement to organize the 4th edition of the Intra-African Trade Fair (IATF) in Algiers in 2025. The Host Agreement Signing Ceremony for the Intra-African Trade Fair 2025 (IATF2025) took place in Algiers on 15 April 2024. The Ceremony, which was hosted by the African Export-Import Bank (Afreximbank), in collaboration with the African Union and the AfCFTA Secretariat, and the Government of the People’s Democratic Republic of Algeria, paves the way for the fourth edition of the IntraAfrican Trade Fair to take place from 4th-10th September 2025 in Algiers. The IntraAfrica Trade Fair gives exhibitors, companies, buyers, sellers, traders, investors, captains of industry, senior ministers, trade finance and advisory specialists, business and economic organisations, senior executives from companies and multinationals, innovative entrepreneurs and the media the opportunity to showcase their products and services, participate in business-to-business (B2B) and business-to-government (B2G) exchanges, network, make new business contacts and conclude trade agreements.

15th April 2024. Algeria’s hosting IATF in 2025 confirms its place as engine of development in Africa. The Minister of Trade and Exports Promotion, Tayeb Zitouni, said that the organization by Algeria of the fourth Intra-African Trade Fair (IATF), confirming its place as the engine of development in the continent and its role in the establishment of peace, security and stability through economic integration. Read More.