ALGIERS - The President of the Republic, Abdelmadjid Tebboune, affirmed Tuesday in Algiers that Algeria has entered a decisive economic phase, fueled by the investment momentum currently underway across the country.

The President of the Republic said during a speech to the Nation before both Houses of Parliament at the Palace of Nations (Club des Pins) that Algeria has entered a decisive economic phase, pointing to the current number of investment projects.

Worth DZD8,242 billion, 19,000 investment projects have been launched, generating 500,000 jobs, recalled the President of the Republic.

On the national economy's progress, the President of the Republic said that "the industry sector now contributes 10 percent to the gross national product."

"We aim to increase this contribution to 13 percent," stressed President Tebboune, noting that locally produced medicines now cover 82 percent of the domestic market.

He also commended the success of the Intra-African Trade Fair (IATF) hosted by Algeria last September, which "yielded remarkable results" and mirrored the momentum investment is gaining in Algeria."