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President Tebboune signs 2022 Finance Law

President of the Republic, Supreme Head of the Armed Forces, Minister of National Defense, Mr. Abdelmadjid Tebboune, signed on Thursday the 2022 Finance Law in Algiers.

The Head of State affixed his signature to the text on the 2022 Finance Law at the headquarters of the Presidency of the Republic, in the presence of senior state officials and members of the government.

The macroeconomic framework adopted for the 2022 financial year is based on a reference price of oil per barrel of 45 dollars and a market price of 50 dollars per barrel, economic growth of 3.3%, growth excluding hydrocarbons of 3.7. % and an inflation rate of 3.7%.

The Finance Law 2022 expects hydrocarbon exports at $ 27.9 billion and imports at $ 31.8 billion.

On the budgetary level, the law provides for revenue of 5.683.22 billion DA and budgetary expenditure of 9.858.4 billion DA.

It provides, in particular, several measures to support investment in several sectors, a complete overhaul of the scale of the global income tax (IRG) which will lead to a reduction in this tax, and the creation of a national system of compensation for the benefit of needy households, which will replace the system of generalized subsidies.

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