2023-05-07 00:59:12
ALGIERS- The State has recovered more than 22 billion USD in funds and property looted inside the country and abroad, affirmed the President of the Republic, Mr. Abdelmadjid Tebboune, assuring the continuation of investigations in corruption cases.
During his periodic interview with representatives of the national media, broadcast Saturday evening on national television and radio stations, the President of the Republic specified that “the latest report from the services of the Ministries of Justice and Finance reveals the recovery of more than 22 billion USD in funds and assets looted at home and abroad”, stressing that “the investigation of corruption cases continues on a daily basis and is not limited to old files , but also concerns new business”.
Assuring that “the State has been able to recover a large volume of misappropriated funds and property and the work is continuing”, the Head of State pointed out that “the results of the investigations have not all been revealed, but the ‘State ensures that everything that has been looted and diverted is revealed.
“Investigations have revealed, for example, that the value of the recovered Oran factory amounted to around 750 million euros,” he said.
President Tebboune also referred to “the adherence of European countries to the ongoing investigations into corruption cases”, affirming that “many countries have collaborated with Algeria to recover the looted funds”.
“The recovery of the funds was done in an intelligent way and the goods located abroad will of course be recovered”, he reassured, noting that “inside the country, efforts are continuing and the state will be able to find everything that has been looted and hoarded in the past”.
“Even if things take time because of the banking system, the most important thing is that these funds are not lost”, concluded the President of the Republic.
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