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President of the Republic: Criminalizing speculation in basic commodities and activating unemployment allowance

President of the Republic, Abdelmadjid Tebboune, gave instructions, Saturday in Algiers, to prepare legal texts criminalizing speculation in basic commodities, and announced that the unemployment allowance will be activated during the next two months as part of the 2022 Finance Law.

During the proceedings of the government-walis meeting, the President evoked speculation in basic commodities practiced by “parasites and intruders to trade” who are trying to “exhaust the capabilities of the state by creating scarcity crises”, stressing that the state is keeping them under a watchful eye and is determined to “recover” its authority which generated by the people.”

Meanwhile, the President of the Republic announced his decision to start activating the “semi-paid” unemployment allowance project during the “next two months and to include it in the 2022Finance Law” with the aim of preserving the dignity of unemployed youth.

In another context, the President of the Republic announced “new legal texts to encourage investment and open capital to companies according to capacity,” indicating that the comprehensive census process for the development projects code registered in public investment revealed “a large number of programs that are suspended or not launched yet,” calling for “the processing of this file before the end of the year and the studying of projects on a case by case basis.”

He also called for a new administrative division in which new delegate provinces would be promoted in the high plateaus and in the north of the country.

On the economic aspect, the President of the Republic revealed that Algeria is “on the verge of achieving a balance in the payments statement,” and thus “achieving a new start for the national economy.”

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