“Echorouk” publishes the details of 2010 Finance law

The 2010 draft finance law includes a set of new measures aimed at reorganizing the national economic sector, cleansing external trade, consolidating internal investment and shoring up national production in the framework of the promotion and safeguarding of the national economy. 

• As a matter of fact, at the external level, export revenues diminished by half in comparison with the first quarter of 2008.
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• On the other hand, Algerian imports stabilized at 19 billion dollars thanks to the measures introduced in the former finance laws.
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• Algeria’s currency reserves have stabilized and correspond now to 4 years of imports.
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• The executive is intent on fortifying all the financial system for the benefit of the national economy through the setting up of an income regulation fund in order to give more visibility to public action and protect it from the vicissitudes of the oil juncture.
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• The government aims at hiking the preferential interest rate notably for the benefit of young promoters by bringing it to 60% and 95% as part of the raising by the guarantee fund of investment credits of the level of risk coverage from 50 to 250 million dinars for the benefit of small and medium – sized enterprises.
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• Furthermore, the executive will continue to promote real estate credits.
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• To back and protect civil servants, the public treasury has been authorized to grant loans to civil servants in order to allow them to acquire, to construct or to extend a flat or a house.
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• The recipient will only support a yearly 1% interest rate.
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• It should be noted that the 2009 additional finance law endowed the national investment fund with a new capital estimated at 150 billion dinars.
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