BY: Dr. Hana Saada
ALGIERS- In a statement released on Sunday, the Algerian Council for Economic Renewal (CREA) applauded the government’s decision to reduce interest rates on investment loans provided by banks, announced yesterday by the Minister of Finance, Mr. Laaziz Faid.
“This decision is the result of continuous consultation, highly appreciated by economic operators, between the government and CREA. This beneficial consultation, for several reasons, strengthens the momentum of investments, already underway, in our country and opens up promising prospects to address the immediate and future challenges of our national economy,” the statement said.
It is recalled that the Minister of Finance unveiled this incentive measure yesterday during a press conference.
The decrease in interest rates on investment loans is expected to stimulate investment activities in Algeria and foster a conducive environment for economic progress. This decision is likely to encourage both domestic and foreign investors to engage in various sectors of the Algerian economy, leading to increased employment opportunities and overall economic growth.
The CREA’s positive response to the government’s decision reflects the confidence of economic stakeholders in the direction of Algeria’s economic policies and their commitment to contributing to the country’s economic development.
With this new measure in place, Algeria aims to reinforce its position as an attractive destination for investment and create a sustainable framework for economic prosperity in the years to come.
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