ALGIERS-The Prime Minister and Minister of Finance, Aïmene Benabderrahmane, chaired Thursday the ceremony to grant budget allocations to various ministries under the Finance Act 2022.
In a speech delivered on this occasion, Mr. Benabderrahmane specified that “the notification of these budget allocations in advance aims to allow authorizing officers to implement the budget over the whole year without resorting to additional periods”.
The ceremony took place at the headquarters of the Ministry of Finance (Algiers), in the presence of the secretaries general and the authorizing officers of the various ministerial sectors and the public administrations concerned, as well as the central directors of the ministry.
The notification of these budget allocations marks the start of the new fiscal year and the implementation of the state budget, after the signing by the President of the Republic, Abdelmadjid Tebboune, last Thursday, of the 2022 Finance Law.
The macroeconomic framework adopted for the 2022 financial year is based on a reference price of a barrel of oil at 45 dollars and a market price of a barrel of 50 dollars, economic growth of 3.3%, growth excluding hydrocarbons of 3.9. % and an inflation rate of 3.7%.
The 2022 Finance Law 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.