BY: Dr. Hana Saada
Algiers, Algeria | November 16th, 2024 — On Saturday, the members of the Algerian Senate (the Council of the Nation) unanimously approved the 2025 Finance Bill in an open session chaired by Senate Speaker Salah Goudjil. The session was attended by Minister of Finance, Laaziz Faid, alongside other government officials.
The approval followed the presentation of the supplementary report by the Senate’s Economic and Financial Affairs Committee. Over the past two days, members had engaged in detailed discussions regarding the bill, which had already been passed by the People’s National Assembly earlier in the week, following the incorporation of several amendments.
In his speech during the session, Minister Laaziz Faid expressed his appreciation for the Senate’s positive response to the bill. He emphasized that this legislation marks the third finance law prepared and discussed in accordance with the constitutional framework set by Organic Law No. 18-15 on Finance Laws.
The finance law, according to Faid, reflects the Algerian President’s commitments, particularly in areas, such as improving citizens’ purchasing power, diversifying the economy, promoting and supporting investment, and advancing large-scale infrastructure projects. The law also outlines strategies for accelerating the energy transition, digitizing government services to support the knowledge economy, managing public debt, and mobilizing additional resources.
The Minister underscored that the 2025 Finance Bill strikes a balance between meeting the immediate needs of citizens and ensuring the sustainability of the national economy, particularly in light of global economic volatility. The bill’s focus on economic diversification and investment in transformative projects aims to position Algeria for long-term growth.
In conclusion, Faid extended his gratitude to the Senate members for their thorough review and valuable contributions to the bill. He acknowledged their pivotal role in fostering constructive debates, which contribute to strengthening the country’s development trajectory. The adoption of the 2025 Finance Bill is seen as a significant step in shaping Algeria’s future economic policies and ensuring its resilience in an ever-changing global economy.
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