Economics Affairs

Finance reform: Algeria, EU ink agreement on EUR10 million supporting plan

APS - 13 March 2017

BRUSSELS- Algeria and the European Union (EU) concluded Monday, in Brussels, an agreement on EU funding of a EUR10 million supporting plan for public finances reform.

The agreement was signed by Minister of State, Minister of Foreign Affairs and International Cooperation Ramtane Lamamra and EU High Representative for Foreign Affairs and Security Policy Federica Mogherini.

The two sides are co-chairing the 10th session of the Association Council instituted by the Algeria-EU Association Agreement signed in 2002, and implemented in 2005, establishing an open dialogue and overall cooperation between the two sides.

The programme is aimed at "improving the performances of public finances management," through a support to the implementation of the strategic plan of public finances modernization, adopted by Algeria in March 2016, according to a diplomatic source.       

"The priority actions as part of the programme will allow the ministry of Finance to have an efficient budgetary management, to get expenditure under control."