Karim Djoudi to Echorouk: “A restoration of the consumer credit is ruled out”

In a statement to the newspaper “Echorouk” outside the proceedings of the National Popular Assembly, the Finance minister, Karim Djoudi, has said that the government has no intention to restore the suppressed consumer credit notably that related to the purchase by the citizens of vehicles by installments before the foreign car dealers established in Algeria.  

• The Finance Minister’s clear-cut statement on the matter has now come to put an end to persisting rumours among the citizens saying that the Ouyahia government was envisaging to restore the consumer credit in the course of the year 2010.
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• Karim Djoudi formally discounted such rumours stressing that the government ruled out such a measure either in the short or medium term in a bid to safeguard the national economy by averting staggering expenditures in relation with a free-wheeling consumer credit.
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• He underlined in this connection that the executive branch had not changed its opinion on the wise decision to scrap consumer credit, stressing that the latter did more “harm than good” to the national economy.
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