No Reduction For The Tourism Grant

date 2017/07/09 views 1670 comments 0
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icon-writer Imane Kimouche/English version: Dalila Henache

Head of the Professional Association of Banks and Financial Institutions, Boualem Djabbar, denied any reduction in the value of the tourism grant at the banks level or issuance of any instruction in this regard.

He confirmed that the grant declined during the last hours from 120 to 115 Euros, "not because of austerity or based on an instruction, but it comes as a result of the devaluation of the dinar against the European currency, the lower the dinar, the decline in the grant at the level of banks".

Djabbar said in a statement to Echorouk on Sunday that the Bank of Algeria and the Ministry of Finance did not take a decision to reduce the value of the tourist grant or raise it, but the large demand by Algerians who are heading abroad, necessarily leads to the devaluation of the national currency against the European one, as 15.000 DZD which is paid by the tourist, is falling from 120 to 115 euros, while he asserted that despite the high demand for the euro, but the banks have mobilized sufficient amounts at the level of the offices to enable the applicants of the tourist grant to receive them in a timely manner.

"Despite the pressure that is faced by banks on a daily basis, citizens receive it on the same day without any problems, while the difference between the way they paid the grant and today lies only in terms of the value that is controlled by the dinar prices against the euro currency, and not due to any new emergency measures".

In a separate context, Djabbar added that the instruction which is issued by the Professional Association of Banks, Financial and Private Institutions to freeze the bank settlement for the importation of a number of items, including Mayonnaise, ketchup, cakes, biscuits and some plastic goods for manufacturing, according to a report by the Commerce Ministry, which is aiming to protect the national economy and valuate and develop the local products.

"Products that are concerned are produced domestically according to the "Made in Algeria" label, and therefore the government hastened to stop its importation and what the banks have done is the first step in this regard by freezing the bank settlement and lifting the freeze on these materials is only through a new correspondence that is issued by the Commerce Ministry. It is the only body that is authorized to regulate imports and legalize the entry of foreign products to the national market".

It is known that the recently published instruction regarding the freezing of bank settlement of a number of products confirms the possibility of future expansion of other products. Since 2016, the government has taken several measures to stop the importation of locally produced foodstuffs, agricultural and industrial products and the adoption of a quota system for items is approaching self-sufficiency in the market such as cement, iron and even cars, which reduced their import rate this year to only 25,000 vehicles, waiting for the installation of four wheels car plants - Renault, Volkswagen, Hyundai and Mercedes - that are expected to pump reasonable production to cover the demand and break the prices.

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