The Minister of Energy and Mines, Mohamed Arkab, received today, Wednesday, at the headquarters of his ministerial department, a delegation from the International Monetary Fund, headed by Chris Geregat, head of the International Monetary Fund mission to Algeria.
This meeting, which took place in the presence of executives from the ministry and a representative of the Bank of Algeria, comes within the framework of the annual consultations of the International Monetary Fund in accordance with Article 4 of the Basic Law of the International Monetary Fund for the year 2023.
On this occasion, the Minister of Energy and Mines presented the main axes of the energy and mining sector development program, as well as the new regulatory frameworks that govern hydrocarbons and mining activities. He also mentioned the sector’s efforts to diversify the national economy and implement the reforms contained in the government’s action plan emerging through the economic program of the President of the Republic. In this regard, the Minister referred to the measures envisaged to enhance economic growth and the role played by the energy and mining sector in many aspects of meeting national energy needs (electricity, gas and petroleum materials), as well as working to secure energy coverage in the country in the long term, as well as contributing to Global energy security (oil, gas, etc.), especially in terms of regularity, stability and reliability, especially by increasing production capabilities and developing the fuel and mining transformation industries, such as developing petrochemicals and transforming mineral resources, in addition to working to achieve a smooth energy transition through the development of new and renewable energies in Algeria.
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