Thursday, January 21, 2021
Home World President Tebboune resumes his activities, promulgates the finance law

President Tebboune resumes his activities, promulgates the finance law


#After a long stay in #Germany to be treated for #Covid-19, #Algerian #President #Abelmadjid #Tebboune resumed his activities by signing the finance law for 2021 on #Thursday, according to a press release from the presidency.

#Mr. #Tebboune, 75, returned #Tuesday from #Berlin before the deadline of #December 31, date on which he had to promulgate the new finance law.

The latter is part of a context of serious risk of economic slump in 2021, despite the optimistic comments of some officials, with the fall in the oil rent, a record budget deficit, the depletion of foreign exchange reserves, a liquidity crisis. and the fall of the dinar.

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#According to forecasts from the #International #Monetary #Fund, #Algeria is expected to experience a 5.2% recession in 2020.

#In its finance law for 2021, the government – which has promised a plan to revive the economy – figures the deficit at 2.7 trillion dinars (17.6 billion euros) – against 2.380 billion dinars in 2020 -, or nearly 14% of the gross domestic product.

#Adopted by both #Houses of #Parliament, the text provides for a decline in foreign exchange reserves to less than $ 47 billion in 2021, before a gradual recovery over the following two years.

#Mr. #Tebboune also resumed his public functions by receiving #Wednesday the chief of staff of the army, #General #Saïd #Chengriha.

The #Algerian president has a busy agenda.

#He still has to sign the decree promulgating the constitutional revision adopted by referendum on #November 1, in his absence.

#This reform of the fundamental charter – #Mr. #Tebboune’s flagship project, supposed to build a “new #Algeria” – was approved by less than 15% of the electorate, with a historically low turnout.

The #Algerian president also ordered the development of a new electoral law to prepare for the next local and legislative elections.

#Finally, #Mr. #Tebboune gave instructions to start the anti-coronavirus vaccination campaign “from #January”. #Algeria has ordered from #Russia – an old ally – a first batch of #Sputnik V vaccine.

The country had recorded #Wednesday evening nearly 100,000 cases of contamination, including 2,751 deaths.

(#With AFP)





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https://maroc-diplomatique.net/algerie-le-president-tebboune-reprend-ses-activites-promulgue-la-loi-de-finances/

##President ##Tebboune #resumes #activities #promulgates #finance #law

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