algerian government took measures to contain deficit
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Amid economic crisis

Algerian government took measures to contain deficit

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Algerian government took measures to contain deficit

Algeria’s economy
Algeria - Al Maghrib Today

Algeria’s government has approved draft amendments to a law aimed at securing new funding sources to cover budget deficits as it struggles to cope with a sharp fall in energy earnings.
Amendments to the Money and Credit Law were endorsed at a cabinet meeting on Wednesday, chaired by President Abdelaziz Bouteflika, and plans for the newly appointed government of Prime Minister Ahmed Ouyahia were discussed.
The OPEC member country has been facing financial pressure since crude oil prices started falling in mid-2014, halving its oil and gas revenue, which accounts for 60 percent of state budget.
The amendment will “authorize the central bank to lend directly to the public treasury so as to finance budget deficits and internal public debt and provide resources to the National Investment Fund,” the presidency said in a statement late on Wednesday.
This type of “exceptional funding” will be implemented for five years and “accompanied with financial and economic structural reforms,” it said, without elaborating.
“Algeria will temporarily turn to this funding after resisting for three years the effects of a severe financial crisis caused by a serious collapse in hydrocarbons prices,” the statement added.
Bouteflika in June called for “internal unconventional funding” to avoid turning to foreign debt, estimated now at less than $4 billion. Algeria expects its budget deficit at 8 percent for 2017 down from 15 percent in 2016.
The cabinet meeting also approved government action plan, which aimed at “improving business environment and boosting investment in all sectors”. The amendments and government plans will still need final approval by parliament, where Bouteflika’s backers have an overwhelming majority.
Algeria has cut public spending by 14 percent for this year after a 9 percent reduction in 2016, and is struggling to reduce its imports bill despite increasing restrictions since early 2016.
That coincides with failures to implement reforms and diversify the economy away from oil and gas, which account for 94 percent of export revenue.
 

 

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

algerian government took measures to contain deficit algerian government took measures to contain deficit

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

algerian government took measures to contain deficit algerian government took measures to contain deficit

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 07:43 2017 Monday ,16 October

'Final phase' of battle for Raqa

GMT 07:58 2011 Monday ,17 October

Chinese stocks close 0.37 pct higher Monday

GMT 13:38 2011 Friday ,11 November

Tips to great skin and hair

GMT 16:57 2017 Tuesday ,24 January

Bahrain condemns attack on market

GMT 19:36 2017 Thursday ,13 April

Despite warning, Assad regime uses barrel bombs

GMT 18:42 2017 Tuesday ,11 April

Muscat Securities Market Loses 29 Points

GMT 11:44 2014 Saturday ,01 November

Arab League council to hold emergency meeting Sunday

GMT 09:21 2011 Monday ,17 October

Tulisa showed on X Factor

GMT 18:08 2017 Tuesday ,17 January

Jordanian Royal Decree Approves Cabinet Reshuffle

GMT 09:07 2011 Sunday ,12 June

Israel to allow limited goods into Gaza

GMT 12:16 2011 Saturday ,18 June

Marilyn Monroe dress stars in Hollywood sale

GMT 13:42 2011 Sunday ,30 October

Watermelon helps reduce atherosclerosis

GMT 21:45 2017 Thursday ,27 April

US dollar exchange rate stable at major banks

GMT 13:20 2018 Monday ,01 January

Lewis Hamilton Instagram account emptied

GMT 22:09 2017 Monday ,24 July

'Dunkirk' captures N. American box office

GMT 02:55 2017 Sunday ,30 April

EU tightens Brexit demands on residence, banks

GMT 10:46 2015 Sunday ,11 January

DWTC to welcome over 130,000 visitors

GMT 06:35 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 15:10 2011 Monday ,20 June

American woman locks horns with \'employer\'
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday