Collapsing Dinar and a Starving Nation: Tebboune and His Military Junta Drive Algeria Into Chaos
The beginning of October marks one of the darkest chapters in Algeria’s modern economic history. The Algerian dinar continues to collapse to unprecedented levels, with one euro now trading for over 270 dinars. This historic low symbolizes the total economic, social, and political bankruptcy of a corrupt and decaying military regime that has suffocated the country since its independence in 1962.
This disaster comes as no surprise. Algeria survives solely on hydrocarbon revenues, with 98% of its economy dependent on oil and gas. In 2023, its non-hydrocarbon exports barely reached one billion dollars—a pitiful figure for a country of 45 million people. Today, with global prices falling, oil wells drying up, and domestic consumption surging, Algeria faces a bleak future: no oil, no gas, and no hope.
Experts are sounding the alarm: by 2026, Algeria will no longer be able to export hydrocarbons due to insufficient surplus production. The country, which already consumes half of its output, will have nothing left to sell abroad—a scenario many describe as the beginning of a “Red Decade.”
The Failure of a Corrupt Regime
This economic shipwreck exposes the criminal incompetence of the military junta. It has squandered decades of oil wealth, crushed private enterprise, and stifled innovation. Worse still, it bought temporary social peace with subsidies and populist rhetoric, all while enriching a corrupt military and bureaucratic elite.
Today, Algerians watch their purchasing power evaporate, inflation spiral out of control, and their currency turn to dust. Meanwhile, President Tebboune and his generals continue to make absurd claims—going as far as to call Algeria the “third economic power in the world.” An insult to a nation struggling to afford bread.
A Society on the Brink
As the dinar collapses, the cost of basic goods is skyrocketing, pushing millions of families into poverty. The youth, robbed of opportunity and dignity, see their dreams fade away. A country once blessed with natural wealth has become an open-air prison, where despair grows by the day.
The fraudulent elections that kept Tebboune in power have only deepened public anger. Every indicator points toward an inevitable social explosion. A hungry and humiliated people cannot be silenced forever.
The Inevitable Fall of a Senile Dictatorship
History is unforgiving: authoritarian regimes that resist change ultimately collapse under the weight of their corruption. Algeria’s military junta, which has held the nation hostage, is heading down that very path. Unable to diversify the economy, suppressing the press, crushing democracy, and sabotaging the future of its citizens—it has already signed its own downfall.
The Algerian people deserve better. They deserve a state that respects their aspirations, an economy that sustains them, and a democracy that represents them. As long as the generals cling to power, Algeria will remain isolated, impoverished, and despised. But the fall of this corrupt and senile regime is no longer a question of if—it’s a matter of when.
Translated from Abderrazzak Boussaid’s French article – le7tv
