Who Runs Algeria’s Economy, the Key Players in 2026

ALGERIA · ECONOMY

The Algeria economy matters to Americans because Algeria sells gas to Europe and buys US goods.

A few state bodies, private families and foreign partners hold the levers. This guide names them as of October 2026.

The Algeria Economy in Numbers

The Algeria economy serves about 47.9 million people in 2026, according to the International Monetary Fund (IMF). Output is projected at about US$331.9 billion this year, which works out to roughly US$6,700 per person.

The IMF estimates real growth at 3.9% in 2025 and projects 3.8% in 2026. Growth outside oil and gas is projected at 3.3% in 2026, while the hydrocarbon sector grows 2.7%.

This guide converts dinars at about 134.5 to the US dollar, the October 2026 rate. The Bank of Algeria’s own quotation was 133.64 dinars on 2 October 2026.

Public money drives the Algeria economy. The IMF says large deficits have used up fiscal savings, with the central government running a deficit of 10.5% of output in 2025.

Public debt stood at 52.1% of output in 2025 and is projected to reach 60.4% in 2027. Almost none of it is foreign: gross external debt is below 1% of output.

Prices and the Dinar

Prices are rising faster. The national statistics office reported that consumer prices in August 2026 were 8.3% higher than a year earlier, while the annual average rate was 3.9%.

TSA reported on 19 October 2026 that the Council of Ministers ordered an inquiry into meat importers and price ceilings on vegetables, pasta and meat. Our guide to the price measures explains the seven steps.

The dinar trades at two prices. The official rate was 133.64 to the US dollar on 2 October 2026, while the street market in Algiers quoted 239.5, about 79% higher.

The IMF wants the central bank to stop financing the Treasury and to let the dinar move more freely. It also warns that the gap with the street market has widened.

Sonatrach, the State Energy Giant

Sonatrach is the state-owned oil and gas company, created in 1963. Its website lists more than 200,000 employees and more than 150 subsidiaries.

Noureddine Daoudi has led it since 26 October 2025, when President Tebboune dismissed Rachid Hachichi. Daoudi was still running the company in mid-October 2026, when he met US energy companies.

Sonatrach’s 2024 annual report, as reported by the news site TSA, shows revenue of 6,523 billion dinars (about US$48.5 billion). Net profit rose 20% to 812 billion dinars (about US$6.0 billion).

It paid 3,872 billion dinars (about US$28.8 billion) in oil taxes to the state in 2024. That single payment explains why the Treasury watches Sonatrach’s every move.

Primary output was 193.7 million tonnes of oil equivalent in 2024, of which 127.9 million was natural gas. The company made 18 discoveries that year, all on its own.

The Ministers and Officials Who Set the Rules

President Abdelmadjid Tebboune holds the last word on economic policy. Prime Minister Sifi Ghrieb chairs the government meetings, including the one held on 21 October 2026 on industry and public works.

Mohamed Arkab is Minister of State in charge of Hydrocarbons. He told parliament’s finance committee on 17 October 2026 that hydrocarbon export revenue reached US$37.5 billion in the first nine months of 2026.

Mourad Adjal is Minister of Energy and Renewable Energies, and oversees the electricity side. On 13 October 2026 he said the state utility Sonelgaz should help Algerian firms enter regional energy markets.

Mohammed Lamine Lebbou became Finance Minister on 1 September 2026, when Tebboune replaced four ministers. He had been governor of the Bank of Algeria, the central bank.

Farid Kourtel is Minister of Industry. He presented the 2027 industry budget to parliament on 19 October 2026.

• Head of state: Abdelmadjid Tebboune, president.
• Government: Sifi Ghrieb, prime minister.
• Hydrocarbons: Mohamed Arkab, Minister of State.
• Energy and renewables: Mourad Adjal.
• Finance: Mohammed Lamine Lebbou, since 1 September 2026.
• Industry: Farid Kourtel.
• Central bank: Mohand Bourai, governor since 3 September 2026.

Gas, Oil and Who Buys Them

Hydrocarbons earned US$37.5 billion between January and September 2026, Arkab said, against US$31 billion a year earlier, Agence Ecofin reported. The IMF sees the rise as a chance to rebuild reserves.

Europe is the main gas customer. According to Spain’s grid operator Enagás, Algeria supplied nearly 35% of Spain’s gas in the 12 months to July 2026, mostly through the Medgaz pipeline.

From January to July 2026, pipeline exports rose 13% to Spain and 5% to Italy, the Gas Exporting Countries Forum says, as cited by Afrik. Our gas and Europe explainer covers the pipelines.

In mid-October 2026 Sonatrach met ExxonMobil, Halliburton and Devon Energy, then Baker Hughes, KBR and Occidental Petroleum (Oxy). It also joined the Algeria Energy Day in Louisiana.

Arkab wants more of the gas and oil processed at home. About 32% is processed locally now, and the target is more than 50%.

The investment programme runs to US$71.6 billion through 2030, with about US$13 billion for refining, Agence Ecofin reported from his testimony.

Public Banks, the Central Bank and the Stock Exchange

Mohand Bourai took over the Bank of Algeria on 3 September 2026. He previously headed the state farm bank BADR and the banks’ association ABEF.

As of January 2025, Algeria licensed 20 banks: seven public and thirteen private. The public group includes BEA, BNA, CPA, BADR, BDL, CNEP and BNH.

The private banks include subsidiaries of Société Générale, BNP Paribas and Natixis, plus Gulf and Arab lenders such as Al Baraka and Trust Bank. Citibank and HSBC operate as branches.

The IMF warns of tight links between the state, state banks and state companies. It urges tighter supervision and better governance of the public banks, and calls non-performing loans high.

The Algiers stock exchange is tiny. Its main market lists seven names, including the state-owned lenders CPA and BDL, the drugmaker Saidal and Alliance Assurances.

In October 2026 the exchange showed free-float value of 97.9 billion dinars (about US$727 million) for CPA. For BDL it was 61.8 billion dinars (about US$459 million).

The Treasury also borrows from Algerians directly. Its first sovereign sukuk, an Islamic bond, targeted 296.65 billion dinars (about US$2.2 billion) over seven years from January 2026.

State Utilities, Telecoms and Holding Companies

Sonelgaz is the state electricity and gas utility. In 2025 it served 12.6 million electricity customers and 8.5 million gas customers, with 26,706 megawatts of installed capacity.

Madar Holding is a state holding company that took over firms seized from former oligarchs. Its board confirmed Adel Khemane as chief executive on 8 January 2026.

Mobilis had 23.47 million subscribers and Djezzy 17.75 million. Agence Ecofin calls both state-owned, while Qatar’s Ooredoo had 14.7 million, according to regulator data cited in May 2026.

Ooredoo told the telecoms minister in May 2026 that it was ready to invest more in 5G and data centres. No amounts were given.

Private Families and Foreign Investors

Cevital, headed by Malik Rebrab, is described by the news site TSA as the largest private group in Algeria. Its website lists food, cars and services, and about US$4 billion in revenue.

In May 2026 it began a US$600 million sugar beet project on 1,200 hectares in Ghardaïa province. The refinery is due in 2028.

Condor is the family company of the Benhamadi family, known for TVs, appliances and phones. In July 2026 it signed a deal with Germany’s Maincor during Tebboune’s visit to Berlin, according to Agence Ecofin.

Tosyali Algérie runs the steel complex at Bethioua, near Oran. It said its 2025 export income was US$1.2 billion and targets US$2 billion to US$2.5 billion in 2026.

Stellantis builds Fiat cars at Oran, in the only car plant then running, and had about 2,000 staff in January 2026. Rules require 40% local content within five years of a plant opening.

See our Algeria country hub for more. Our guide to the Algerian car push explains Tebboune’s target of a fully national vehicle.

Iron Ore, Exports and the Push to Diversify

Non-hydrocarbon exports reached about US$4 billion from January to August 2026, up around 10%, an official of the Ministry of Foreign Trade said. The 2026 target is US$5 billion.

Chocolate, olive oil, biscuits and cheese lead the food list, which earned US$213 million in the same months. Our report on non-oil exports has more.

The Gara Djebilet iron ore mine near Tindouf holds more than 3.5 billion tonnes, according to the Jeune Indépendant daily.

A primary processing unit was over 95% complete in June 2026, the same daily reported.

The draft 2027 finance bill assumes growth of 4.2% and an oil price of US$60 a barrel, economist Brahim Guendouzi wrote in TSA. It would also add value-added tax on e-commerce platforms.

What It Means for US Readers

The United States bought US$2.24 billion of Algerian goods in 2025 and sold Algeria US$1.28 billion, according to the US Census Bureau. From January to August 2026 the United States bought US$1.93 billion and sold US$1.00 billion.

US oil service firms are the clearest opening. Sonatrach’s talks with ExxonMobil, Devon, Halliburton, Baker Hughes, KBR and Oxy in October 2026 show where the state wants partners.

Buyers and investors in the Algeria economy should expect the state at the table, since Sonatrach, state banks and ministries approve most large deals. Dinar access is tight.

Readers of Europe’s gas story should note that Spain and Italy depend on Algeria’s pipelines. Read our Algeria geopolitics guide for the diplomatic side.

What Is Not Known

Little is public about the wealth or accounts of Algeria’s private families. Ownership of the biggest private groups is held within the families.

It is not clear how fast reserves will fall. The IMF projects US$46.5 billion at the end of 2026 and US$19.8 billion in 2030, but oil prices could change that path.

Nor is it clear whether the October 2026 price controls will curb inflation. The 2027 finance bill is also still before parliament.

Frequently Asked Questions

Who runs the Algeria economy?

The state does. President Abdelmadjid Tebboune sets the line, and Sonatrach, the state banks and ministries such as Hydrocarbons and Finance carry it out. A few private families, including Cevital and Condor, sit beside them.

What is the biggest company in Algeria?

Sonatrach, the state oil and gas company, is the largest. It reported revenue of 6,523 billion dinars (about US$48.5 billion) for 2024 and employs more than 200,000 people.

How big is the Algeria economy?

The IMF puts output at about US$331.9 billion in 2026, with real growth projected at 3.8%. That is about US$6,700 per person.

What does Algeria export?

Mostly oil and gas, worth US$37.5 billion from January to September 2026. Non-oil exports such as steel, cement and food reached about US$4 billion from January to August 2026.

Who controls Algeria’s banks?

The state controls the biggest ones. Seven of the 20 licensed banks were public as of January 2025, and Mohand Bourai has led the central bank since 3 September 2026.

Is Algeria’s dinar stable?

The official rate has stayed near 133 dinars to the US dollar since March 2026. The street market in Algiers quoted about 239.5 on 3 October 2026.

Sources: IMF, Executive Board concludes 2026 Article IV consultation with Algeria (Press Release 26/290), 21 September 2026; IMF, Staff completes 2026 Article IV mission to Algeria, 6 July 2026; IMF DataMapper, Algeria GDP and population, October 2026; Sonatrach, official website and press releases, 16 October 2026; Algeria Press Service (APS), Sonelgaz minister remarks, 13 October 2026; APS, Government meeting chaired by the Prime Minister, 21 October 2026; APS, Minister of Industry before the National People’s Assembly, 19 October 2026; APS, Bank of Algeria governor in Bangkok, 17 October 2026; Algiers Stock Exchange (SGBV), official listings, 20 October 2026; US Census Bureau, Trade in goods with Algeria, October 2026; TSA Algérie, Mohand Bourai, the new Bank of Algeria governor, 3 September 2026; TSA Algérie, Tebboune replaces four ministers, 1 September 2026; TSA Algérie, Sonatrach 2024 annual report, December 2025; TSA Algérie, Seven measures against rising prices, 19 October 2026; TSA Algérie, Official and parallel dinar rates, 3 October 2026; TSA Algérie, Non-hydrocarbon exports in eight months, 18 October 2026; APS, Hydrocarbon export revenue reaches US$37.5 billion, 17 October 2026; Agence Ecofin, Algeria wants to process over 50% of its hydrocarbons locally, 20 October 2026.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief