Algerian President Dismisses Finance and Industry Ministers Amid Economic and Policy Concerns

Algerian President Dismisses Finance and Industry Ministers Amid Economic and Policy Concerns

Algerian President Abdelmadjid Tebboune has dismissed Finance Minister Laaziz Faid and Minister of State for Industry and Pharmaceutical Production Fouad Hajji, citing economic mismanagement and policy inefficiencies as key reasons for their removal.

According to official sources, the decision comes in response to growing concerns over economic stagnation, rising inflation, and delays in critical industrial reforms. Faid, who had served as Finance Minister since March 2023, faced criticism for failing to stabilize Algeria’s economy amid ongoing global financial uncertainty. His inability to curb inflation, implement effective fiscal reforms, and attract foreign investment reportedly led to frustration within the government.

Meanwhile, Hajji, who was responsible for industrial development and pharmaceutical production, was dismissed due to delays in pharmaceutical sector reforms and the slow implementation of policies aimed at boosting local drug production. Government insiders revealed that Algeria’s pharmaceutical industry struggled to meet domestic demand and reduce reliance on imports, which was a major policy objective under Tebboune’s administration.

In a swift cabinet reshuffle, Abdelkrim Bou El Zerd has been appointed as the new Minister of Finance, while Wassim Kouidri has been named the Minister of Industry and Pharmaceutical Production, now operating as a separate ministry. The move is seen as part of Tebboune’s broader strategy to revitalize Algeria’s economic framework and ensure that key sectors function more efficiently.

President Tebboune, who secured a second term in September 2024, has been emphasizing economic reforms, industrial self-sufficiency, and stronger financial policies as part of his administration’s agenda. Analysts believe the latest reshuffle signals his commitment to addressing policy failures and improving governance in crucial sectors.