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The economy of Algeria news
Latest updates from the Algerian business ecosystem

The economy of Algeria news

In a historic move that has shifted the balance of power in the global energy market, the United Arab Emirates has officially announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance.

Algeria - The Minister of Energy and Renewable Energies, Mourad Ajal, received today, Tuesday in Algiers, the ambassador and special envoy for energy security and critical raw materials at the Belgian Ministry of Foreign Affairs, Geert Moil, according to a statement from the ministry.

Ministers, heads of institutions, and experts confirmed during the second session of the CEO Survey Algeria 2026, held today Tuesday in Algiers, that Algeria is moving towards establishing comprehensive economic sovereignty based on the valorization of national resources, diversification of funding sources, and accelerating the pace of digital transformation.

Algeria - The Minister of Foreign Trade and Export Promotion, Kamal Rzig, received today, Tuesday in Algiers, the Russian president's advisor for international transport cooperation, Igor Levitin, and his accompanying delegation, as part of the working visit of the Russian official to Algeria, according to a statement from the ministry.

Today, Tuesday, April 28, State Minister and Minister of Hydrocarbons, Mohamed Arkab, met at his ministry's headquarters with the Belgian Foreign Ministry's special envoy for energy security and critical raw materials, Geert Moil, to discuss ways to enhance bilateral cooperation in the hydrocarbons and oil and gas industry. They also reviewed investment and partnership opportunities between SONATRACH and Belgian companies across various segments of the value chain, particularly in refining and petrochemicals. According to the ministry, the discussions also addressed ways to strengthen trade relations in the fields of oil, natural gas, liquefied petroleum gas, and petroleum products, as well as mechanisms to support investment and develop partnerships.

The tax authorities have ordered the termination of the tax exemption system established during the 'Corona' pandemic, in a move that reflects a return to the normal tax system after the exceptional health situation has passed, which may have direct impacts on the costs of importing and marketing pharmaceutical products and medical supplies. According to a signed directive bearing the number 23/2026 issued by the Tax Directorate on April 14, 2026, which 'Echorouk' has reviewed, the provisions of Article 36 of the supplementary finance law for the year 2020, amended and supplemented, have been canceled under Article 106 of the finance law for the year 2026, which were provisions that granted a temporary exemption from value-added tax and customs duties for the benefit of...

The Bank of Algeria imposes a ceiling of 50 percent... and immediate application without any transitional period. The aim is to enhance financial discipline and reduce the risks of off-balance-sheet commitments. The Bank of Algeria has imposed a new maximum limit for external commitments of banks, not exceeding 50 percent of their own funds, to be implemented starting May 1, 2026, requiring banks to apply it immediately without any transitional period. In this context, the Bank of Algeria issued a new instruction regarding the determination of the level of external commitments of banks and financial institutions, according to instruction No. 03-26 dated April 26, 2026, amending instruction No. 02-2015 dated July 22, 2015, signed by the Governor of the Bank of Algeria.

The Minister of State, Minister of Hydrocarbons, Mohamed Arkab, confirmed today, Tuesday in Algiers, Algeria's commitment to fulfilling its international energy obligations. The minister pointed out that the country has significant structural components that allow it to strengthen its position as a reliable partner in the long term on the international stage. Arkab made this statement during a high-level meeting titled: 'Energy and Mines: How Algeria works…'

The Minister of State, Minister of Energy, Mohamed Arkab, confirmed today, Tuesday in Algiers, Algeria's commitment to fulfilling its international energy obligations. The minister pointed out that the country has significant structural components that allow it to enhance its position as a reliable partner in the long term on the international stage. Arkab made this statement during a high-level meeting titled: 'Energy and Mines: How Algeria works…'

The Minister of Foreign Trade and Export Promotion, Kamal Rzeig, received Igor Levitin, the Russian presidential advisor for international transport cooperation, and his accompanying delegation during a working visit to Algeria today at the ministry's headquarters. The meeting provided an opportunity to review the current state and prospects of economic and trade cooperation between Algeria and Russia, where both parties emphasized the importance of strengthening the bilateral partnership.

The Minister of State, Minister of Hydrocarbons, Mohamed Arkab, received the special envoy for energy security and raw materials from the Belgian Ministry of Foreign Affairs, Geert Moil, accompanied by a delegation.
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