ITALY STRENGTHENS ITS ECONOMIC POSITION IN ALGERIA.
25 October, 2022
Finance Bill 2023 has been submitted to the Finance and Budget Committee of the Algerian Parliament, which will have to vote on it before the end of the year.
The total budget is DZD 13.76 trillion (€98.3 KM) (9.86), equivalent to 71.5% of GDP of 2021 (€137.48 KM), compared to 48% of the previous budget, with the following data and starting estimates, (DZD 140/€ rate).
Starting data:
– Reference prices/market of a barrel of oil: 60 USD (45/50)
– Projected economic growth: 4.1% 2023, 4.4% 2024 (3.7 in 2022)
– Inflation: 5.1% 2023, 4.6% 2024 (3.7 in 2022)
– Trade balance:
o Total exports: 46.30 MMUSD
o Imports: 2021 data: 30.44 MMUSD “down”.
– Budget balance:
o Revenue + 39%: 7,901,900,000,000 DZD (5,683,220 MM in 2022)
o Expenditure + 39.8%: 13,786,800,000,000 DZD (9,858,400 MM in 2022)
o Deficit + 42 %: 5,881,900,000,000 DZD (4,174,180,000,000) (42.35 % in 2022)
– Distribution of expenditure:
o Operating expenditure: 9,767.6 MMDZD (6,311.53 = 64 % in 2022)
o Equipment expenditure: 4,019.3 MMDZD (3,546.90 = 36% in 2022)
Among the fiscal novelties announced by the general director of taxes, Amel ABDELLATIF, “numerous measures aimed at promoting and supporting investment”, exemption of fishing and aquaculture cooperatives, as well as the “tutelage” of the IBS and measures to promote self-entrepreneurship.
It highlights a spectacular increase in military spending of 127%, reaching 22,700 MMUSD which would represent 23% of the total budget, according to the local press, placing Algeria in first place in military spending in Africa and twenty-sixth in the world.
https://www.algerie-eco.com/2022/10/26/plf-2023-amel-abdellatif-detaille-les-mesures-fiscales/