Algeria: “Projected hike in tourist allowance to around 500 Euros” By: Dalila Belkhir /*/ English Version: Med.B.

The Finance Minister, Abderrahmane Benkhalfa, has announced ongoing plans for an increase in the tourist allowance for Algerian citizens wishing to travel abroad, by suggesting an expected hike between 450 and 500 Euros, compared to the 150 Euros set by the Central Bank presently.

The relevant file pertaining to this projected increase is to be submitted for study and probable endorsement by the council of ministers shortly, Mr Benkhalfa affirmed.

 “Probably, there won’t be only a hike in  the tourist travel allowance but also an increase in the allowance for medical  care overseas as well as for the financing of students’ studies abroad, ” said the finance minister added.

This very issue is now being tackled at the level of the finance and budget commission of the National People’s Assembly, according to MP Ammar Radjah, who suggested that such an allowance hike is in the making as part of the 2016 finance bill which is to be discussed in Parliament.

Evoking the uncontrolled informal hard currency market in the country, he surmised that opening money exchange offices would not solve the problem for good.

 “The public opinion and the press believe that just by opening official currency exchange offices, the black currency market will fade out. This is a misconception”, he pointed out.

“The Bank of Algeria has issued 48 approvals for opening foreign exchange offices, but they closed down one after the other, because in the current adverse operating conditions of our economy, they are not profitable”, noted Mr. Benkhalfa.