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The Constitution, on Friday, November 16, 2018.
Members of the Algerian National National Assembly unanimously voted on the Finance Act of 2019 (the state budget), which included a deficit of more than $ 17 billion with the expected decline in fuel exports, the main source of foreign currency.
The budget was approved based on the reference price of barrels of oil of $ 50 and a rate of RSD 118 to $ 1.
The budget shows that the revenues will reach 6507.9 billion dinars (more than 55.15 billion dollars), of which 23 billion dollars of fuel, compared with total expenditures estimated at more than 72.51 billion dollars (deficit of about 17.36 billion dollars.
As last year, the state has allocated 20% of its budget to finance social benefits and support for large consumer goods, mainly fuels for cereals, sugar, oil and milk.
It is expected that the account will increase by 2.9 percent for 2019 and the inflation rate of 4.5 percent.
Twenty-one MPs proposed amendments to the laws, most of which were rejected, and above all, an amendment that gives part of the tax on the work of the Labor Party that did not vote "because of the lack of an information system" that allows verification of the wealth of each person, according to the report of the Committee finance and budget.
Algeria finances its exports of foreign exchange reserves, which is continuously decreasing from the collapse of oil prices in the summer of 2014.
In 2014, this reserve was $ 195 billion, and is expected to fall to $ 62 billion by the end of 2019, according to the law on the budget.
In the end, we thank the visitors and followers of the East Times website and we promise to provide you with the latest and most important news from all reliable sources of news. We transferred more than $ 17 billion to the budget deficit in 2019. The source is responsible for the health of the news.