Bank of Algeria: Figures on non-conventional financing presented

0
6
Want create site? Find Free WordPress Themes and plugins.

As part of the non-conventional financing mechanism, launched in late 2017 after the amendment of the law on currency and credit, the Bank of Algeria (BA) injected DZD4,005 billion until September 2018 and received, in November, a financing request of DZD1,187.2 billion “unexploited so far,” the BA Governor, Mohamed Loukal announced before the People’s National Assembly (Lower House).

 

During a plenary session chaired by Speaker Mourad Bouchareb on the presentation of a report of the Bank of Algeria on the country’s financial and monetary situation in 2017 and the first nine months of 2018, Loukal stated that a budget worth DZD4,005 billion was divided between DZD1,470 billions devoted to covering the Public Treasury’s deficit and DZD2,264 billions to finance the public debt.

Including the securities issued under non-conventional financing until late September (DZD4,005 billion) and the unexploited amount of DZD 1,187.2 billion requested in November, the rate of non-conventional financing in relation to gross domestic product (GDP) stands at nearly 28%, detailed Loukal.

Explaining the details of tickets printing under this exceptional financing mechanism, Loukal reported the printing of DZD1400 billion in January 2018, including DZD900 billion by the BA as an advance to partially cover the deficit of the Public Treasury and DZD500 billion representing an allocation granted to the National Pension Fund (CNR) to settle its debts to the National Social Insurance Fund.

As part of the same mechanism, an amount worth DZD420 billion was injected, including DZD100 billion for the repurchase of Treasury securities held by Credit Populaire Algerien (CPA), in exchange for the reorganization of Sonelgaz’s debts and DZD320 billion to the National Investment Fund (FNI) which will in turn lend this amount to CPA to finance the arrears of AADL (hire-purchase housing) projects for the 2017 and 2018 financial years, according to the clarification provided by Loukal.

The balance of the Public Treasury with the BA has a credit worth DZD1475 billion until the end of September, said Loukal.

Regarding the new amount (DZD1187.2 billion) requested in last November, the BA Governor announced that “DZD735.2 billion will be allotted to the FNI and DZD452 billion to Sonatrach group.”

 

APS

 

 

WHO IS DZ BREAKING?

 

 

 

An Algerian news website aims at covering all the country’s territory through providing objective and positive image, focusing the most on breaking news.

A dynamic team is working on feeding the website by credible information in all fields of life; a reliable network composed of specialized elements working in harmony with our team in Algiers, the website’s headquarter, provides us more coverage and simultaneity.

“English” is what makes us different in Algeria and ranks us first too not only as a news website; English also makes it simple and fast for Anglophone world to discover our country.

Did you find apk for android? You can find new Free Android Games and apps.

There are no comments yet