BY: Dr. Hana Saada
Algiers, Algeria | November 04th, 2024 — The Minister of Finance, Laaziz Faid, has introduced the 2025 Finance Bill to the deputies of the People’s National Assembly (APN). General discussions around this pivotal legislative text will continue until Wednesday.
In his presentation, Faid emphasized that Algeria’s economy remains resilient despite challenging international conditions, which include heightened inflation, weakened global trade, reduced investments, and restrictive monetary policies prevalent across many economies worldwide.
This presentation took place in a plenary session, chaired by APN Speaker Brahim Boughali, with the presence of Basma Azouar, Minister of Relations with Parliament, alongside several government members.
2024: A Pivotal Year
Faid highlighted the unique context of this bill’s preparation, noting that 2024 is a pivotal year due to the upcoming presidential election. This period marks the conclusion of initiatives under President Abdelmadjid Tebboune’s first term and the anticipated start of new programs in his second term.
He explained that the Finance Bill reflects the close of a period defined by substantial budgetary challenges, especially those arising from the Covid-19 pandemic and the implementation of extensive commitments under the President’s recovery program.
Regarding fiscal measures, Faid pointed to improvements in citizens’ purchasing power, achieved through a series of reforms: the exemption of the Global Income Tax (IRG), adjustments to the Guaranteed National Minimum Wage (SNMG), an increase in the indexed salary point, the unfreezing of public sector promotions, the introduction of unemployment allowances, revised pension schemes, and the resumption of investment projects suspended since 2014.
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