Finances: President Tebboune Initiates Special Council of Ministers for 2024 Finance Bill

BY: Hana Saada

Algiers – In a strategic move to shape Algeria’s financial future, President Abdelmadjid Tebboune has directed the establishment of a dedicated Council of Ministers tasked with crafting the 2024 finance bill. This critical decision comes with a commitment to preserving Algeria’s financial sovereignty by minimizing external debt reliance, prioritizing green energy education, and engaging the country’s thriving start-up ecosystem.

The President’s directive signifies a strong resolve to streamline the budgetary process, ensuring that the decisions made align with the nation’ strategic goals. Tebboune stressed the importance of drawing from the collective wisdom of previous ministerial councils, building on their experiences, and learning from past successes and shortcomings.

One of the paramount priorities outlined by President Tebboune is the preservation of Algeria’s financial independence. President Tebboune emphasized a strategic avoidance of excessive reliance on external debt. This strategic financial prudence aims to secure the nation’s economic sovereignty and reduce exposure to potential economic vulnerabilities.

In addition to the financial independence agenda, President Tebboune has shown significant interest in the development of green hydrogen technologies. He commended Algerian universities for their efforts in dedicating resources to the education and research of green hydrogen. This clean energy source has gained prominence as a vital part of the global transition to sustainable energy solutions. Algeria’s commitment to fostering expertise in this field highlights its aspiration to play a significant role in the evolving global energy landscape.

To bolster the nation’s commitment to green energy and sustainability, the President has instructed the involvement of start-up companies in the rehabilitation and expansion of the “green dam.” This initiative aligns with the country’s environmental preservation goals and is expected to stimulate innovation in eco-friendly technologies.

Furthermore, President Tebboune tasked the Minister of Agriculture with developing a new plan exclusively for pilot farms. This plan will define clear objectives aimed at improving the agricultural sector’s performance. By focusing on pilot farms, the government aims to set a model for efficient and sustainable agricultural practices that can be replicated nationwide. This move demonstrates a concerted effort to enhance food security, promote sustainable farming methods, and boost the economy through the agricultural sector.

As Algeria charts its course towards a more financially secure and environmentally conscious future, President Tebboune’s proactive decisions reflect the government’s commitment to driving positive change and fostering sustainable economic growth. The formation of a specialized Council of Ministers for the 2024 finance bill, the emphasis on fiscal independence, green hydrogen education, start-up engagement, and agricultural sector improvement are integral components of Algeria’s vision for the years ahead. These initiatives are poised to shape the nation’s economic trajectory and pave the way for a more resilient and sustainable Algeria.