Bakhti Belaib: Balance of payments beset by deficit and …2017 import cars’ quota likely to be curtailed

date 2016/11/29 views 406 comments 0

icon-writer By: Imène Kimouche /*/ English Version : Med.B.

The Trade Minister Bakhti Belaib has spoken of the possibility of reducing the quota of imported cars in the year 2017, with the government likely to decide on a larger curtailment of this quota compared with the year 2016, which amounted to 97 thousand vehicles imported from overseas after the appeals introduced by the accredited car dealerships on the matter.

Mr Bakhti Belaib underlined that “the country’s balance of payments is witnessing a woeful deficit, and this untoward situation imposes a reduction of vehicles’ imports in 2017 in order to slash non-vital expenditures”.

The trade Minister acknowledged in this respect the difficulty of the current economic situation of the country, marked by slowing growth in the light of the oil crisis and by a balance of payments’ deficit, thereby pointing to the imperious need to scale down imports in 2017, including cars.

He further announced ongoing preparations for the introduction of free trade between Algeria and manifold African countries,  a few days ahead of the much-awaited Algeria-Africa Economic Forum  due to be held between 3 and 5 December 2016 in Algiers, so as to facilitate the entry of the Algerian goods into the African market.

Mr Belaib also highlighted for this purpose the significant hike in the number of registered Algerian economic operators and companies now wishing to engage in export activities towards the African continent.

The Trade minister further said these export-oriented efforts would be deployed in close conjunction with the Ministries of industry and mines, transport, public works, agriculture, rural development and fisheries, with the aim of making this endeavor a telling success by garnering positive spin-offs for the Algerian economy at all levels.

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