Economic growth exceeds 6% in Q3 2021

ALGIERS- Prime Minister, Minister of Finance Aïmene Benabderrahmane affirmed, Wednesday, that Algeria’s economic growth reached more than 6% in the third quarter of 2021, a rate never achieved before.

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ALGIERS- Prime Minister, Minister of Finance Aïmene Benabderrahmane affirmed, Wednesday, that Algeria’s economic growth reached more than 6% in the third quarter of 2021, a rate never achieved before.

“For the first time in the history of Algeria, economic growth reached, during the third quarter of 2021, a rate of more than 6%, a level never reached even by advanced economies, thanks to the implementation of the program of the President of the Republic, Mr. Abdelmadjid Tebboune “, underlined Mr. Benabderrahmane at the end of the adoption of the Finance Bill 2022 by the People’s National Assembly (APN) during a plenary session chaired by Brahim Boughali, Speaker of the body.

The Prime Minister declared to the deputies: “you have noted the achievements already accomplished through the economic recovery program and our non-hydrocarbon export capacities”.

Regarding the 2022 Finance Law, the Prime Minister announced that it provided for a series of reforms aimed at boosting the national economy and ensuring the major balances under economic and social programs through the rationalization of public spending and a better tax collection.

“The State has taken care, through the provisions of this text, to encourage activities generating wealth and jobs, in particular for the benefit of young people, with a view to protecting the national economy via directing State aid towards vulnerable categories and the middle class to preserve purchasing power in addition to protecting public funds against corruption and waste, “explained the Prime Minister.

Far from populism and overbidding, added the Prime Minister, the objective (revision of subsidies) has been outlined and will be followed by “measures and mechanisms which will be put in place with the participation of all”.

The State has maintained the colossal envelope devoted to public aid (1942 billion Da, or 17 billion dollars) despite the economic crisis, recalled the Prime Minister.

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