Aymen Abderrahmane: “We Did Not, We’ll Not Resort To External Debt”

Finance Minister, Aymen Abderrahmane denied the possibility of Algeria resorting to the external debt during the next stage, due to the independence of its financial decisions.

“We did not and will not resort to external debt, and our financial decisions are independent, and we will work to ensure this and not prejudice it in implementation of the instructions of the President of the Republic, Abdelmadjid Tebboune”, he added.

“This option is not on the table at all, and that comes at a time when most countries resorted to borrowing to cope with the spread of the pandemic COVID-19 and the negative economic effects caused by the quarantine”.

The Minister stated during a study day on budget reforms that was organized, on Monday, at the Finance Ministry that every ministry is working to study its budget accurately with the Finance Ministry and in continuous coordination, announcing new reforms and procedures in this framework similar to setting a time frame to facilitate calculating the budget and to enable each ministry to anticipate its expenditures for the next stage according to a specific time frame, and rely on transparency in following up on expenditures, asserting that the government’s priority today is to rationalize expenditures and direct them primarily to investment.

“The great endeavours of the Algerian government is to develop investment and not to freeze it, which is what the Finance Ministry seeks to achieve, considering that the effort to develop the financial sector is in itself a work to develop the economic investments. All means are provided to support and finance the investments”.

“The government will continue its activity and embody the obligations that are programmed in its work plan despite the health situation and the difficulties that are related to the budgetary and financial status. A new business strategy for the sector is based on the involvement of all the parties in preparing the budget, considering that the budget reform will focus on the principles of conducting performance, updating budget tools and using modern technology to develop them”.

In a separate context, the Finance Minister announced the extension of the deadlines for the acquisition of the car voucher until the next 15 July, after it was specified to 30 June, that is, the day Sunday as the last date for its acquisition.

Previously, the President of the Republic, Abdelmadjid Tebboune, appointed Aymane Abderrahmane as the new Finance Minister, to succeed Abderrahmane Raouya a few days ago in the second government of Abdelaziz Djerad, and during the recent cabinet meeting, before the government amendment, President Abdelmadjid Tebboune renewed his categorical rejection of the option of external debt to preserve national dignity and sovereignty.