Algerian President Abdelmadjid Tebboune announced that Algeria has recovered about $30 billion in stolen assets, while reiterating his government’s refusal to resort to foreign borrowing.

Speaking during a visit to the Ministry of Defense, Tebboune said several European countries have pledged to assist in retrieving additional funds embezzled during the rule of late President Abdelaziz Bouteflika.

“Spain has handed over a hotel purchased with stolen money, and we have agreements with other European nations to help recover more assets,” he added.

Tebboune stressed that the government’s anti-corruption drive had “spared the national economy from collapse,” noting that fraudulent import operations had reached $62 billion, and underscored the need to “preserve the social character of the state.”