From the ashes of Algeria’s “Black Decade,” an agonising period marked by unspeakable violence and national trauma, emerges a country quietly reclaiming its future. The scars remain, but so does the resilience forged in fire. Today, Algeria stands at the threshold of renewal, secure, stable, and increasingly self-assured. This is not just recovery; it’s a rediscovery of purpose, identity, and possibility.

The Tebboune vision: Charting a bold economic course

Under President Abdelmadjid Tebboune, who secured a decisive re-election in September 2024 with 94.7 per cent of the vote, Algeria has embraced an ambitious transformation agenda. The president’s bold declaration that Algeria aspires to achieve a GDP of $400 billion by 2027, positioning the nation as “the second, or even the first, African economy”, reflects more than political rhetoric; it represents a fundamental shift in national strategy.

Algeria’s economic turnaround is gaining tangible momentum. In 2025, the country posted a budget surplus of $1.17 billion, signaling prudent fiscal management and growing investor confidence. Foreign exchange reserves stand at a robust $73 billion, providing a crucial cushion against global volatility. Most remarkably, GDP is projected to grow by 4.5 per cent, driven not primarily by oil and gas, but by emerging sectors like manufacturing, agriculture, and services. This shift marks a deliberate move toward diversification, resilience, and long-term sustainability — a quiet but powerful economic recalibration that positions Algeria as a rising force in the region.

The numbers tell a compelling story of transformation. Since 2017, non-hydrocarbon exports have tripled, reaching $5.1 billion in 2023, with fertilizers, steel, and cement leading the charge. This diversification effort gained particular urgency following the 2019 Hirak protest movement, which demanded not just political change but economic opportunity for Algeria’s youth. The response has been systematic: non-hydrocarbon GDP expanded by 4.8 per cent in 2024, driven by strong public investment and robust household consumption, while........

© Middle East Monitor