Algeria: President Tebboune Signs Finance Law 2022
Algiers — President of the Republic, commander-in-chief of the Armed Forces, minister of the National Defense Abdelmadjid Tebboune signed on Thursday, in Algiers, the finance law 2022.
The Head of State signed the finance law 2022 at the headquarters of the Presidency of the Republic, in the presence of the State’s top officials and the government’s members.
The macro-economic framework retained for 2022 banks on a reference price of crude oil at USD45 dollars a barrel and a market price of USD50 a barrel, an economic growth of 3.3%, a non-hydrocarbon growth of 3.7% and an inflation rate of 3.7%.
The finance law 2022 banks on hydrocarbon exports reaching USD27.9 billion and USD31.8 billion of imports.
In terms of budget, the law provides for receipts of DZD5,683.22 and budget expenses of DZD9,858.4.
It notably provides for several measures to support investment in several sectors, an overall overhaul of the total income tax (IRG) and the creation of a national compensation mechanism for the needy households.
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