Algerian President Abdelaziz Bouteflika on Tuesday signed the nation's Budget Law of 2015 which earmarks more than 101 billion U.S. dollars as public spending for next year.

The law expects budget revenues worth 53.5 billion dollars, and public spending of 101 billion dollars.

The 2015 Budget Law comes amid the oil prices downfall in international markets. It was drawn up on a reference oil price of 37 dollars a barrel.

Meanwhile, the government decided to maintain taxes at current level, and also to continue subsidising major staple foodstuffs, in order to maintain their prices within the reach of all people.

The budget predicts a growth rate of 3.42 percent in 2015, while inflation would be kept at around 3 percent.

Defense and security sectors were allowed a budget worth nearly 20 billion dollars, to face security challenges, including terrorism and organized crime.

In addition, the document allows the return of consumer credits, as people can be provided loans from public banks to buy local made productions.

After being adopted by the two houses of Parliament last month, and signed by the President on Tuesday, the 2015 Budget Law will be put into force as soon as January 2015. Endit

Go to Forum >>0 Comment(s)