Draft budget law to lift up constraints on private companies to create jobs
The draft supplementary budget law due to be presented today to the cabinet for endorsement is designed to facilitate the enactment of the battery of economic and social measures decided by president Bouteflika last February.
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The singularity of this draft law consists in the fact that, the management budget worth 848 billion Algerian Dinars has, for the first time, surpassed the equipment one which nears 765.60 billion Algerian Dinars .
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The draft law that will be discussed in the parliament doesn’t include any additional taxes and provides numerous facilities for private companies in a move to encourage the creation of jobs.
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The Algerian authorities have allocated 5billion Algerian Dinars to subsidize sugar and cooking oil to help keep their prices within the consumers’ reach and cap their prices at 90 Algerian dinars per kilogram for sugar and 600 Algerian Dinars for the five litre jerry can of oil.
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The latest measures decided by president Bouteflika give priority to the employment sector more specifically to fresh university graduates, some 350 thousand university graduates will benefit from allowances.
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The complementary financial law is set to be discussed by the parliament no latter than May 3rd .
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