Algerian President Abdelmadjid Tebboune signed the country’s fiscal budget law for 2021, which will enter into force early next January.
According to the presidential office statement, the signing ceremony was attended by Prime Minister Abdulaziz Jarad and a number of senior state officials.
The signing of the fiscal budget law for 2021 is one of the pending files awaiting President Tebboune, who returned Tuesday the day before yesterday to Algeria, after traveling on a treatment trip from Corona infection to Germany.
The parliament, with its two chambers, the National Assembly and the National People’s Assembly, approved the bill, and is now waiting for the president to sign it so that it enters into force.
The Finance Act for 2021 expects real GDP growth of 4%, after a decline of 4.6% according to estimates of the 2020 closing, and with regard to non-hydrocarbon growth, it is expected to reach 2.4% in 2021.
The law expects that the total expenditures of the projected budget will rise from more than 7 billion dinars in the supplementary finance law for the year 2020 to more than 8 billion dinars, or almost 10% in the year 2021, and the budget deficit is expected to rise during 2021 to 13.5% of the gross domestic product against 10.4% in the supplementary fiscal budget law for the current year.
Source: Agencies
