Algeria's Tebboune Reveals Decision to Raise Wages by 47% in 2023

Algerian President Abdelmadjid Tebboune revealed on Thursday that it was decided to raise wages to 47% at the end of 2023 and the beginning of 2024.

In his speech during a governors meeting, Tebboune said: "Salaries are not enough, and we are aware of that, but at the end of 2023 and the beginning of 2024, we will raise the percentage of wages to 47%.

Tebboune explained that the year 2023 will witness the first 100% national production of table oil under the protection of the state and the law, and will witness the launch of the first Algerian factory to produce sugar from the field to the consumer.

Regarding the new year's projects, the president said: "The year 2023 will increase the speed of achievement and enhance the gains ... We are moving towards supporting the gains and improving the living conditions of the citizen, which remains at the top of our priorities."

He added, "We are moving towards improving public service, restoring real estate, valuing agricultural real estate, encouraging the establishment of institutions, encouraging investment, creating jobs and upgrading public facilities."

The Algerian president called on the owners of money stored outside banks, saying: "I make a final appeal to those who accumulated money in homes to deposit it in banks," recalling in this context that the state "provided a thousand guarantees to protect the citizen and the national economy."

He pointed to the availability of banks dealing in Islamic banking.

Tebboune affirms that the Algerian state will not collapse, despite the plots of the enemies, and indicates that economic growth reached 4.1% in 2022.