Algeria’s complementary finance draft law outline

The Algerian government will maintain in the next complementary finance draft law expenses on their normal level to keep social commitments. A set of legislative measures related to foreign trade are expected to be included in the text in an attempt to sort out capitals, Echorouk has learnt.

The Algerian finance ministry prepared the 2015 complementary finance draft law and submitted it to the delegate minister in charge of budget and forecasting. It will also be transmitted to the finance minister Mohamed Djellab before discussion in a cabinet meeting.

According to the same sources, the government did not take any austerity measures in sorting out expenses-related budget. This comes as promises had been launched in housing, employment health and education sectors.

The draft law will also include a number of legislative measures meant to sort out foreign trade. Other scheduled measures aim at remedying a deficit caused by capitals movement which caused $10 billion in financial market.

Earlier in Jan-February, Algeria’s trade balance showed a deficit amounting to $341 million compared to a surplus estimated at about $2 billion in Jan-February 2014. During the same period, Algeria’s exports went down by 31 percent. That means oil price-related loss in international market exceeded $3 billion in two months only.