Algeria’s 2024 Finance Bill Published in Official Gazette 

BY: Hana Saada

ALGIERS- Algeria’s finance landscape for the year 2024 comes into focus as the 2024 Bill Law was officially published in Official Gazette No. 86 this past Sunday. President Abdelmadjid Tebboune signed the legislation on December 24, 2023, marking a significant step in the nation’s financial planning.

The 2024 Finance Bill outlines expenditures exceeding DZD 15.275 trillion, with 18% earmarked for public investment. Approved by the People’s National Assembly (APN) on December 5, and the Council of the Nation on December 14, this legislative milestone aligns with the Medium-Term Budget Framework (2024-2026).

Budget Allocation Breakdown

1. Personnel Expenses: DZD 5,155.67 billion
2. Service Management Expenses: DZD 632.87 billion
3. Investment Expenses: DZD 2,894.58 billion (commitment authorization) and DZD 2,809.36 billion (payment credits)

The 2024 Finance Bill also introduces a new public investment program. The allocated budget for fresh operations in 2024 is estimated at DZD 2,405.33 billion (commitment authorization) and DZD 1,356.57 billion (payment credits). Additionally, provisions for the reassessment of ongoing operations in 2024 reach DZD 489.25 billion (commitment authorization) and DZD 396.82 billion (payment credits).

Economic Growth and Fiscal Measures

The budget is anchored in a reference oil barrel price of $60 during 2024-2026, with an estimated crude oil barrel price of $70. The economic projections anticipate a 4.2% growth rate. Export-wise, goods are expected to reach $49.8 billion USD in 2024, with imports increasing by 7.1% compared to 2023 estimates, reaching $43.5 billion USD.

The balance of trade is forecasted to achieve surpluses between 2024 and 2026, hitting $6.3 billion USD in 2024, $2.9 billion USD in 2025, and $4.2 billion USD in 2026. The legislation includes various legislative measures aimed at preserving citizens’ purchasing power, supporting investment, and streamlining tax procedures through digitization.

Tax Reforms and Citizen Support

One notable highlight is the removal of the Tax on Professional Activity, aligning with President Abdelmadjid Tebboune’s directives. The 2024 Finance Law also introduces fiscal incentives for various activities, demonstrating a commitment to bolstering investment and the national economy.

This comprehensive fiscal package underscores Algeria’s dedication to responsible financial governance and economic advancement. As the nation steps into 2024, these measures aim to strike a balance between fiscal prudence, citizen welfare, and sustainable economic growth.

Dzair Tube Media Group 

Dzair Tube has firmly established itself as a prominent player among Algerian digital news sites, offering a diverse and enriching content experience. The platform, available in Arabic, French, and English editions, captures the attention of a wide-ranging audience, amassing over half a million daily clicks.

A testament to its commitment to excellence, Dzair Tube received the prestigious President of the Republic’s Award for Professional Journalist in the Electronic Press category on October 22, 2022. This recognition underscores the platform’s unwavering dedication to upholding the highest standards of journalism.

With a significant online presence, Dzair Tube boasts 350,000 subscribers on YouTube, over five million followers on various Facebook pages, and 450,000 subscribers on Instagram. Its digital channel has become a hub for diverse programming, covering news, sports, entertainment, culture, and religion, catering to a broad spectrum of audience preferences.

Equipped with state-of-the-art studios and advanced technology, Dzair Tube’s digital channel has garnered substantial viewership for its varied programs. Hosting interactive discussions with influential figures across different domains, the platform actively fosters public discourse and engagement. Beyond news coverage, Dzair Tube extends its commitment to the production of marketing documentaries, short TV commercials, and high-viewership programs.

The success of the print edition of Dzair Tube’s sports newspaper, “Dzair Sport,” further highlights the platform’s impact, with over 50,000 daily downloads from the official Dzair Tube website.

Recently honored with the Media Leadership Award from the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the landscape of Algerian digital news, maintaining a position of influence and impact in the media industry.