Fayed: 2025 will be the year of economic reforms and support for stability – Algerian Dialogue

Mr. Fayed said, during the meeting of the National Committee to Assess the Risks of Money Laundering, Terrorist Financing, and Financing the Proliferation of Weapons of Mass Destruction, which was held yesterday, Thursday, at the headquarters of the Ministry of Finance, that 2025 will be a “pivotal year in the path of deepening economic reforms and supporting stability, and it will be a year of expanding the tax base, which will contribute to addressing… The most important risks are related to the size of the informal economy and the extent of dealing in cash.”

During this meeting, the Minister mentioned the necessity of “maintaining the pace of work in the National Coordination Committee,” because the challenges presented – as he said – “do not tolerate any slackness or procrastination.”

The meeting also discussed – according to the same source – “an agenda commensurate with the established priorities,” including proposals related to “complementary measures to mitigate and combat the risks of money laundering and terrorist financing and present them to the National Committee for approval.”

It was also highlighted “discussing the progress of the work of the National Coordination Committee charged with managing the file of lifting the FATF reservations.”

The meeting allowed the Minister of Finance to review “the most important decisions that were approved during the last meeting and the most important work that was accomplished during the last period,” noting, by the way, “the most important measures brought in by the Finance Law of 2025, related to the generalization of electronic payment methods that support the transparency of transactions and facilitate tracking.” Its course, which will enter into force starting January 1, 2025.”

During the meeting, “a joint presentation was made between the national coordinator and the head of the financial inquiry processing cell on the progress of the work of the National Coordination Committee, while the project head gave an intervention on preparing proposals for road maps for non-priority sectors that were discussed.”

In conclusion, Mr. Fayed presented “draft decisions related to the adoption of road maps for non-priority sectors related to judicial bailiffs, lawyers, the betting and gaming sector, customs agents, the profession of expert accountants and certified accountants, as well as the profession of account keepers,” in addition to adopting “the mechanism proposed by the Special Technical Committee.” “By following up on the implementation of road maps for all relevant sectors and accelerating the formation of work groups in charge of special evaluations for both legal persons and associations of a non-profit nature,” according to what was included in a statement. Ministry of Finance.