Algeria: President Bouteflika signs 2012 Finance Law

The President of the Republic, Mr Abdellaziz Bouteflika, signed on Wednesday the 2012 Finance Law which provides for an overall budget of 7.428.7 billion dinars including 4.608.3 billion dinars or ( 74 billion Euros ) earmarked for operating expenses and 2.820.4 billion dinars or ( 28 billion Euros ) for equipment expenditure.

• The President of the Republic, Mr Abdellaziz Bouteflika, signed on Wednesday the 2012 Finance Law which provides for an overall budget of 7.428.7 billion dinars including 4.608.3 billion dinars or (74 billion Euros) earmarked for operating expenses and 2.820.4 billion dinars or (28 billion Euros) for equipment expenditure.
• 
  

• The official signing ceremony was held at the premises of the Presidency of the Republic in upper Algiers in the presence of senior state officials and government members.
• 
  

• It should be noted that the 2012 Finance Law was adopted on November 2nd by the National Popular Assembly and on November 16th by the Council of the Nation.
• 
  

• The state budget for 2012 is based on a benchmark oil barrel price of 37 dollars and 90 dollars for the market price, an exchange rate of 74 dinars for a dollar, a national growth rate of 4.7% and an inflation rate set  at 4%.