ECONOMY

Lower House adopts Finance Bill 2023

ALGIERS- The members of the People's National Assembly (lower house of Parliament) adopted by majority on Tuesday the Finance Bill 2023, in a plenary session chaired by Brahim Boughali, the house's speaker, in the presence of Finance Minister Brahim Djamel Kassali and many other ministers.

The Finance Bill 2023 proposes a series of measures in support of investment and taxes, as part of the new budgetary approach focused on the goals for more efficiency and transparency.

As regards the macroeconomic framework, the budget 2023 is based on a reference price of 60 dollars a barrel and a market price of 70 dollars.

The text of law provides for a growth rate of 4.1%, an inflation of 5.1%, exports of 46.3 billion dollars, imports of 36.9 billion dollars and foreign exchange reserves of 59.7 billion dollars.

The forecast revenues for 2023 are 7901.9 billion dinars (+4), while the expenditures are 13786.8 billion dinars, including 9767 billion dinars of operating expenses, that is a budget deficit of 4092.3 billion dinars (-15.9% of the GDP).