Algeria’s New Tourist Allowance Set to Take Effect Before End of Ramadan or After Eid

BY: Dr. Hana Saada

Finance Minister Abdelkrim Bouzred Announces Major Fiscal and Investment Policy Developments

Algiers, Algeria | February 20th, 2025 — Algerian Finance Minister Abdelkrim Bouzred announced on Thursday before the People’s National Assembly (APN) that the long-anticipated implementation of the revised tourist allowance will take place “before the end of Ramadan or immediately after Eid.” The decision marks a significant shift in Algeria’s foreign exchange policy, addressing long-standing concerns regarding the accessibility of foreign currency for Algerian travelers.

The new allowance, set at 750 euros per person, granted once annually, represents a substantial increase compared to previous allocations. This measure is expected to alleviate the financial constraints faced by Algerians traveling abroad while aligning with broader economic reforms aimed at stabilizing the country’s monetary policies.

Reviving Stalled Investments: A Strategic Imperative

In a parallel move to stimulate economic growth, Minister Bouzred revealed that inter-ministerial consultations are currently underway to reassess the list of nearly 10,000 investment projects that have been frozen since 2012. These projects, spanning various sectors, have been stalled due to administrative, financial, or policy-related challenges.

In response to a parliamentary inquiry about unfreezing the construction of the Urban Security Directorate in Bordj Bou Arréridj, Bouzred underscored that matters related to security and public order remain a top priority for the Finance Ministry. He further announced that a dedicated meeting on the issue has been scheduled at the ministry’s headquarters, with expectations of yielding positive outcomes.

Overhauling Port Logistics and Storage Infrastructure

To tackle the growing issue of container congestion in temporary storage warehouses, Bouzred unveiled a series of structural reforms. He reiterated that the recent suspension of dry port activities across Algeria was enacted in compliance with high-level governmental directives. This decision follows key amendments to the Customs Code, which mandates the replacement of the “dry port” designation with “temporary storage facilities.”

Reforming Algeria’s National Cadastre System

Further reinforcing Algeria’s economic restructuring efforts, the minister announced the launch of new cadastral operations in regions where official land records fail to accurately reflect real-world ownership and territorial divisions. The reform will be piloted in three model sites across three different wilayas, with an additional cadastral review planned for three municipalities located in Algeria’s desert and steppe regions. Following the evaluation of these pilot projects, the restructured cadastre system will be expanded nationwide, ensuring greater transparency in land management and real estate development.

The Future of Islamic Banking in Algeria

In response to growing interest in Islamic finance, Bouzred revealed that discussions are ongoing regarding the potential establishment of a specialized Islamic banking institution. While the project remains in its conceptual phase, the minister acknowledged its feasibility, signaling the government’s openness to diversifying Algeria’s financial landscape to accommodate Sharia-compliant banking services.

 

 

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