President Bouteflika initials 2010 Law of Finance during Cabinet appraisal meeting

The President of the Republic, Abdellaziz Bouteflika, today initialed the 2010 Law of Finance during a meeting in Algiers of the council of Ministers which was an opportunity for the head of state to listen to assessment reports put forth by several Ministers on the achievements made in their respective sectors of activity. 

• The 2010 law of finance which was already adopted with a large majority by the two houses of Parliament provides for manifold social measures for the benefit of the needy segments of the population.
• It also aims at spurring national and foreign investments, alleviating tax pressure and fighting the scourge of unemployment notably among the Algerian youth.
• The new law of finance provides for 5.860 billion dinars in overall expenses, including 2.838 billion dinars earmarked for the operating budget and 3.022 billion dinars for the equipment budget.
• Next year’s  law of finance is buttressed upon a forecast growth rate of the Gross Domestic Product  (GDP)   of 4 % ( 5.5 % outside hydrocarbons ),  an average oil barrel price of 37 dollars, an inflation rate of 3.5 % and imports amounting to about 37 billion dollars.
• The smooth implementation of the various provisions of the 2010 law of finance is expected to speed up the national and local development drive by notably enhancing  job-creation prospects , spawning wealth and giving a solid impetus to the national economic machine through the carrying out of all pending projects in all key fields of endeavour notably in the sectors of industry, agriculture, water resources, construction and services in line with the all-out development program initiated by the President of the Republic Mr. Abdellaziz Bouteflika.