Karim Djoudi: “The Algerian government will not forsake documentary credits”

The Algerian finance minister, Karim Djoudi, has affirmed that the government will stick to the documentary credit procedure which has been dubbed as a major hurdle by numerous economic operators in their import / export operations. 

• Karim Djoudi declared to this effect that the documentary credits would remain the sole mode of payment of imports, while recalling by the same token that certain facilities had been decided by the government for the benefit of small and medium-sized enterprises whose exchanges don’t exceed 2 million dinars.
• Speaking on Thursday outside the opening of the autumn session of the council of the nation and the national popular Assembly, the finance minister stressed that the adoption of the documentary credit (CREDOC) was meant to contribute to stamping out the scourge of bribery and corruption in Algeria.
• Karim Djoudi further indicated that the Algerian tax regime was quite better than that in force in many Mediterranean countries as it is geared to fighting fraud and corruption and encouraging national and foreign investment.
• The finance minister also asserted that it was out of the question for the government to restore the consumer credit after its rescinding adding that the paramount objective was first to bolster the national production.