Algeria to reschedule young entrepreneurs’ debt

The Algerian work minister Mohamed Benmeradi is expected to make a recent report on Thursday about public support system related to employment as the government banned interest rates on projects intended to young entrepreneurs.

Thursday’s meeting will talk about entrepreneurs’ debt and the support system role in reducing unemployment.

According to sources, the Algerian Prime Minister Abdelmalek Sellal asked Benmeradi to give new figures about employment public support system in order to assess youth employment mechanisms following the ban on interest rate.

This comes as the government plans to reduce unemployment among graduates which is estimated at more than 25 percent.

The same sources say the government does not have the intention to ban young entrepreneurs’ debt but Sellal gave instructions to the Algerian finance minister Karim Djoudi to examine those cases and facilitate debts payment.

Algerian water minister Hocine Nacib will make a presentation about public investments as part of President Abdelaziz Bouteflika’s five-year-plan.

The meeting agenda also includes a draft executive decree about the list of equipment and products exempt from taxes meant to boost hydrocarbons sector.