Finance Minister: “2019 Will Be A Tough Year For Algerians”

Government would maintain the policy of social support, but the year 2019 would be financially difficult for the Algerians, Finance Minister, Abderrahmane Raouia, said, during an information day on the Finance Act of 2019, that was organized, on Monday, in Algiers El Aurassi Hotel,

“Social support is an irreversible option, despite the difficult economic situation of the country”, he asserted.

“The Finance Law for this year, will work to maintain the major balances through the payment of development projects and the preservation of financial resources”.

“Government has set a basic goal for 2019, which is to encourage the national economy and to protect the purchasing power of citizens”.

“Provisions of the Finance Law for this year did not include new taxes that may raise fears and anger among the citizen, contrary to what was the case during the past three years after the collapse of oil prices”.

The minister defended the Finance Law, which came into effect, explaining that it embodied the directions that are adopted by the government in the field of promoting exports outside hydrocarbons, and keep attention to national companies at the public and private sectors.

The same is true for the support of local institutions, in order to protect the local product, by introducing a number of measures to facilitate their work through applying large tax exemptions.

On the other hand, Abderrahmane Raouia, acknowledged the deficit that was recorded last year and the figures that make dealing with the current crisis a difficult task, citing official government index along the lines of the inflation rate, which is stable at the expected limits of 4.5%.