By Faith Barbara N Ruhinda at 1346 EAT on Friday 3 October 2025

Algiers – President Abdelmadjid Tebboune has said that Algeria’s current foreign exchange reserves are at an “acceptable level,” showing signs of improvement despite global economic pressures, including a decline in oil prices.

Speaking during a televised interview with representatives of national media on Friday evening, President Tebboune noted that the reserves are sufficient to cover the country’s imports for nearly a year and a half.

“Foreign exchange reserves are improving, despite the decline in oil prices, thereby covering the country’s imports for a duration of one year and five months, or even a year and a half,” the president said.

Tebboune also highlighted the potential impact of recent international trade initiatives, particularly contracts signed by Algerian companies during the Intra-African Trade Fair (IATF-2025), which Algeria hosted in early September. He said the agreements—especially those focused on non-hydrocarbon exports—could significantly boost the country’s revenue streams in the coming years.

In response to a question regarding the increase in the tourism allowance to €750, which came into effect in July, the President revealed that nearly 470,000 Algerians have traveled abroad since the change was implemented. The total value of allowances issued has reached €400 million, he added.

The president’s remarks come as Algeria seeks to diversify its economy, reduce dependence on hydrocarbons, and strengthen its financial stability amid global market fluctuations.