The Finance Bill 2022 under consideration in Parliament

El Proyecto de Ley de Finanzas 2022 en estudio en el Parlamento
31 octubre, 2021
Le projet de Loi de Finances 2022 à l’étude au Parlement
31 octubre, 2021
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The Finance Bill 2022 under consideration in Parliament

The draft Finance Law 2022 has been referred to the Algerian Parliament and Council of the Nation, which will have to vote on it before the end of the year.

The total budget is DZD 9.86 trillion (€62 KM), equivalent to 48% of 2020 GDP (€127,091 KM), with the following data and starting estimates.

Starting data:

  • Reference prices/market of the barrel of oil: 45/50 USD
  • Expected economic growth: 3.7 %
  • Inflation: 3.7%
  • Balance of trade:
    • Oil exports: MUSD 27,900
    • Imports:      MUSD 31,900
  • Budget balance:
    • Revenue:        5.683.220.000.000 DZD
    • Expenditure:  9.858.400.000.000 DZD
    • Deficit    DZD (42.35%)
  • Distributionof expenditure:
    • Operating expenditure:   6.311,53 MMDZD (64%)
    • Equipment expenditure:  3.546,90 MMDZD
      • Investments:          2.713,86 MMDZD
      • Capital operations:   833,03 MMDZD

Among the fiscal novelties, a total revision of the IRG calculation scales and the introduction of a compensation device for the neediest households. Investment promotion measures and a new tax amnesty are also announced to try to bring money out of the official circuit.

The social partners regret that the text does not now provide for a relaunch of aid for the accommodation of needy families or the reimbursement of medical expenses. Normally, social assistance issues are incorporated as improvements in the parliamentary process.

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