The draft law was voted on during a public session chaired by the President of the National People’s Assembly, Ibrahim Bougali, in the presence of Finance Minister Laziz Fayed and members of the government.
The representatives also voted on the proposed amendments to the draft law included in the supplementary report of the House Finance and Budget Committee, to which 90 amendments were referred by the representatives.
This vote is considered an important step towards approving the state budget for 2025, which will focus on accelerating economic development, combating unemployment, and enhancing investments in vital sectors such as industry and infrastructure, according to the Algerian Ministry of Finance.
Algerian economic experts believed that the draft law introduced new measures aimed at promoting investment and supporting the national economy, as well as new measures to support purchasing power and improve the citizen’s living framework, and enshrines the expansion of the tax base while introducing a number of tax incentives and facilities that affect many sectors of economic activity without including new taxes.
While the parliamentary bloc of the “Movement for Society of Peace” rejected the draft law and voted against it, noting that this was due to “the occurrence of a group of legal violations in form and substance in the presentation of the draft law at the level of the Finance and Budget Committee,” in addition to “the unjust acceleration in studying the draft law, and the hasty “It is clear that it will be passed in a very short period of time.”
The movement also noted that the rejection of the amendments and proposals presented by representatives of its parliamentary group was “based on unconvincing justifications, the lack of the necessary professionalism and seriousness in studying the draft law, and its treatment of the state budget in a traditional manner that is not consistent with the requirements of the Programs, Objectives and Indicators Law.”
She criticized the law for “the lack of transparency with regard to the budget allocated to institutions under guardianship and the absence of indicators to measure efficiency, which makes parliamentary oversight impossible, and the lack of information systems that allow monitoring the implementation of the budget.”
It is noteworthy that the draft Finance Law for the year 2025 will be presented to the National Assembly for further discussion and approval, before it enters into force at the beginning of next year.
Algerian President Abdelmadjid Tebboune is likely to make a government reshuffle after approving the 2025 budget.
Source: Algerian media
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What are the key amendments made to Algeria’s 2025 State Budget Draft Law that aim to enhance investment and economic stability?
**Title: Interview on Algeria’s 2025 State Budget Draft Law**
**Interviewer:** Welcome to our program. Today, we’re discussing the recent developments in Algeria’s economic policy, particularly the draft law that was voted on in the National People’s Assembly last week. Joining us is Dr. Amina Belkacem, an economic analyst specializing in North African markets. Thank you for being here, Dr. Belkacem.
**Dr. Amina Belkacem:** Thank you for having me.
**Interviewer:** Let’s dive right in. The recent vote on the draft law is a significant step towards approving Algeria’s state budget for 2025. Can you explain what the main objectives of this budget are?
**Dr. Amina Belkacem:** Absolutely. According to the Algerian Ministry of Finance, the 2025 budget is primarily focused on accelerating economic development, combating unemployment, and enhancing investments in crucial sectors such as industry and infrastructure. The aim is to create a more dynamic economic environment that can improve the standard of living for citizens.
**Interviewer:** That’s a broad and ambitious agenda. The vote also included amendments proposed by the House Finance and Budget Committee. What kinds of changes were made to the initial draft law?
**Dr. Amina Belkacem:** There were a significant number of amendments—90 in total—that addressed various aspects of the draft law. These amendments are designed to fine-tune the legal framework to better support investment and bolster the national economy. Additionally, they aim to address issues like purchasing power and the overall living framework for citizens through targeted economic measures.
**Interviewer:** You mentioned investment. What specific measures are incorporated in this budget to stimulate investment?
**Dr. Amina Belkacem:** The draft law introduces new incentives that broaden the tax base while providing tax benefits to encourage both local and foreign investments. The goal is to create a more favorable business environment that can attract investment in key economic sectors. This is crucial, especially considering the challenges Algeria faces in diversifying its economy away from oil dependency.
**Interviewer:** Economic diversification is indeed vital. What are some of the potential impacts of these measures on the average citizen?
**Dr. Amina Belkacem:** If implemented effectively, the measures should lead to job creation, improved purchasing power, and a general enhancement of living conditions. The focus on infrastructure and industry could pave the way for more employment opportunities, thereby reducing unemployment rates and stimulating economic activity at the grassroots level.
**Interviewer:** It sounds promising, but are there any challenges or concerns that you foresee with this budget plan?
**Dr. Amina Belkacem:** Yes, the implementation phase is always where challenges arise. It’s critical for the government to ensure transparency and efficiency in using resources. Additionally, maintaining public trust during this process, especially given the economic hardships many citizens face, will be crucial. If these measures do not translate into tangible benefits quickly, it may lead to disillusionment among the populace.
**Interviewer:** Thank you for your insights, Dr. Belkacem. It seems that while the draft law holds promise for Algeria’s economic future, careful execution will be key to its success.
**Dr. Amina Belkacem:** Precisely. Thank you for having me.
**Interviewer:** Our pleasure! Thank you to our viewers for tuning in. We’ll keep you updated on the progress of Algeria’s 2025 budget and its impact on the economy and society.
