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100 Euros Tourism Grant Raises Anger Of Algerian Travelers

Echoroukonline
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100 Euros Tourism Grant Raises Anger Of Algerian Travelers
ح.م

Algerians who wish to travel abroad during August were shocked to receive no more than 100 Euro the value of tourism grant for DZD 15,000, which is the weakest figure ever since it was set in 1996 against the Algerian dinar, 22 years ago.

The procedure raised anger among Algerian travelers especially since this value is usually spent in one day abroad, while they are forced to resort to the black market for the acquisition of the euro for DZD 215, with an increase of 70% of its price.

The financial and economic expert, Kamal Si Mohamed, said in a statement to Echorouk that the decline in the value of the tourism grant is due primarily to the devaluation of the dinar, which was equivalent, to the beginning of August, DZD 141 per 1 euro and reached DZD 137 against the European currency, at the time when the euro reaches DZD 89, the date of its creation in 1999, which imposes every time a significant deterioration in the value of tourism grant for travelers abroad, and make it retreat terribly on August.

“The exchange rate of banks is not the same as the tourism exchange rate, which is added to the margin of tourism, which increases the small amount of the grant that is complained to by Algerians who travel abroad, knowing that this margin is usually equivalent to 10% of the total value of the grant, although the Governor of the Bank of Algeria, Mohamed Loukal, ruled out any close increase in the value of this tourism grant in light of the current economic and financial situation, that is characterized by the low oil prices and the decline of savings of the treasury in hard currency, but said that raising them is more than an urgent need, wondering about the reason of Algeria Bank’s manner of specifying it with the dinar, although the dinar today is not the same that was in 1996 with the need to take into account the high inflation rate”.

“The continuation of the hard currency market in Port Said Square in the capital and other black points for the sale of hard currency is one of the pretexts that make the Bank of Algeria insist not to raise the grant, as it is not appropriate to spend more Algerian “hard currency” towards other countries, and those who wish to go abroad can purchase it from the black market at DZD 215, unlike the commercial banks. This is much less important, but many patients and students who are going to treatment or study face an embarrassing situation”.

Previously, Bank of Algeria governor, Mohamed Loukal, told the deputies of the National People’s Assembly that the increase in the value of the tourism grant is not currently being considered.

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