✏️ BY: Dr. Hana Saada
Algiers, Algeria | May 22, 2024 — The Ministry of Finance has outlined key priorities for the 2025 budget law, emphasizing the need to strengthen investments with significant economic potential, expand the tax base, and recover funds from the informal economy. In a recent directive sent to financial officers, the ministry detailed these focal points, aiming to support economic growth and broaden fiscal revenue.
Supporting Productive Investment
The directive highlights that the upcoming 2025 budget law should prioritize measures that improve the business climate, promote investment, and revive major structural projects. The state’s investments will be more focused on priority projects, adopting a selective approach in choosing public investment initiatives. “Investment expenditures should follow a prioritization approach, applying a method to select public investment projects with high economic potential and those in key social sectors,” the document states.
Expanding the Tax Base
Expanding the tax base remains a major objective for the government. The ministry’s note stresses the importance of identifying the taxable population and proposing financial and fiscal incentives to gradually integrate the informal market into the formal economy. “The priority remains focused on expanding the tax base, supported by efforts to census the fiscal population and propose financial/fiscal incentives that encourage the informal market’s progressive adhesion,” the document notes.
No Tax Exemptions
In line with this strategic focus, the Ministry of Finance has instructed that no tax reductions or exemptions be introduced in the new 2025 finance law. “No measures of tax exemption or reduction of taxable rates can be proposed,” the document specifies. This stance aligns with the government’s recent efforts to encourage domestic production through the rationalization of imports.
Balancing Budgetary Discipline and Investment
The ministry’s approach aims to balance budgetary discipline with targeted investment in productive and social sectors. This comes in a global context marked by fluctuating hydrocarbon prices, which remain the main source of public treasury funding. The overarching goal is to consolidate the national economy by increasing non-hydrocarbon exports, supporting growth, and reducing reliance on fossil fuels, all while rationalizing imports to avoid harming domestic production.
The Ministry of Finance’s directive underscores a comprehensive strategy to strengthen Algeria’s economic foundation, focusing on sustainable growth, fiscal expansion, and integration of the informal sector into the formal economy. This approach aims to foster a resilient and diversified economic landscape capable of withstanding global economic fluctuations.
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