Bouteflika signed on the Finance Law 2010

Algeria President Abdelaziz Bouteflika signs here on Wednesday, the Finance Act 2010, which includes the expenses of the budget in the amount of 5.860 billion dinars. The official ceremony of signing the bill was held at the presidency in the presence of senior officials in the state and memebers of the government. 

• The People’s National Council has ratified last December the Finance Act 2010, then was apporved by the National Assembly two weeks after that.
• The law expects revenues worth 3081 billion dinars and budget expenditure of 5860 billion dinars, including 2838 billion dinars for conduct and 3022 billion dinars for processing.
• The Finance Act, which also includes many of the measures in the social field, provides for new arrangements designed to encourage new investment and reduce fiscal pressure and combating unemployment.
• The macroeconomic framing of the law depends on the expected growth of domestic production with the value of 4% (5.5 out of hydrocarbons), and an average price of oil barrel to USD 37, ans an inflation rate of 3.5%, as well as imports of about USD 37 billion.