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 included in Algeria’s 2025 Finance Bill and their implications for economic policy?
**Interview with Economic Expert on Algeria’s 2025 Finance Bill Voting**
**Interviewer:** Thank you for joining us today. We’ve just seen the draft law for the 2025 state budget voted on by the National People’s Assembly. Can you share your thoughts on the significance of this vote?
**Expert:** Absolutely, it’s a crucial moment for Algeria’s economic future. The passage of this finance bill marks a pivotal step towards implementing strategies aimed at economic development. With the presence of prominent figures like President Ibrahim Bougali and Finance Minister Laziz Fayed during the vote, it underscores the government’s commitment to this process.
**Interviewer:** The draft law includes around 90 amendments. What do these amendments signify for the budget’s implementation?
**Expert:** The amendments proposed by the House Finance and Budget Committee reflect a thoughtful approach to tailoring the budget to current economic challenges. By addressing these concerns through amendments, the assembly shows responsiveness to different viewpoints and needs within the economic framework, aiming for a more robust and effective budget.
**Interviewer:** What are the main objectives outlined in this finance bill, particularly regarding economic development and employment?
**Expert:** The bill is focused on several key areas: it prioritizes accelerating economic development, combating unemployment, and increasing investments in vital sectors such as industry and infrastructure. By doing so, it’s expected to lay a foundation for sustainable growth.
**Interviewer:** It was mentioned that the bill also aims to support purchasing power and enhance the living standards of citizens. Can you elaborate on this?
**Expert:** Yes, enhancing purchasing power is essential, especially in times of economic uncertainty. The introduction of new tax incentives and the expansion of the tax base are steps towards improving the overall economic climate for citizens, allowing them to enjoy a better standard of living. This is integral in addressing social pressures and ensuring wider economic participation.
**Interviewer:** how do you view the role of investment in this budget, and what impact could it have?
**Expert:** Investment is the lifeblood of economic growth. By promoting investment—whether through incentives for local businesses or foreign direct investments—the government aims to stimulate job creation and innovation. This, in turn, is expected to foster a more dynamic economy, capable of withstanding future challenges. The focus on vital sectors symbolizes a long-term vision for sustained economic health.
**Interviewer:** Thank you for your insights. It sounds like the 2025 Finance Bill could significantly impact Algeria’s economic trajectory.
**Expert:** Thank you for having me. Indeed, it could be a transformative step if effectively implemented. The focus on strategic investments and social welfare might well define Algeria’s economic landscape in the coming years.