The President of the Republic, Abdelmadjid Tebboune, issued important decisions during the Council of Ministers meeting, related to several matters and issues of concern to the Algerian people, such as the purchasing power of citizens, housing, taxes and other decisions.
The Presidency of the Republic said in a statement: “Mr. Abdelmadjid Tebboune, President of the Republic, Supreme Commander of the Armed Forces, and Minister of National Defense, chaired, on Wednesday, a special meeting to study and discuss the draft finance law for the year 2024. After the Minister of Finance presented the draft law before the Council of Ministers, the President of the Republic gave directives.” The following instructions and commands:
1 The priority is to maintain the purchasing power of citizens, using available methods, taking into account financial balances.
2 Including the wage increases that were approved during previous Cabinet meetings, since the year 2022, with the aim of achieving the implementation of the President’s commitment to achieve increases of up to 47 percent in 2024, while taking into account the financial impact resulting from the review of the basic laws for the health, education, and higher education sectors.
3- The President ordered the registration of the completion of 250,000 new housing units, 100,000 of which are in the form of social rental housing and 150,000 in the form of rural subsidies, in continuation of the commitment of the President of the Republic to complete one million housing units between 2020-2024.
4 The President of the Republic ordered the abolition of the Tax on Professional Activity (TAP).
5 Mr. President ordered amending the condition of guaranteeing loans to include the constructed parts and not the lands
6 Mr. President expressed his satisfaction with recording positive indicators that will help the Retirement Fund gradually return to balance starting from the current year, after the increase in the number of new jobs, which led to an increase in the rate of worker declarations nationally.
7 Reducing the value-added tax (TVA) to the maximum extent on poultry production, and the same measure applies to imported foodstuffs in general.
8 Prioritizing public spending while preserving the social character and stimulating investment.
9 The President of the Republic stressed the need to strengthen the will for reform to be comprehensive and effective in various sectors.
10 It is necessary to highlight the general economic trends that would give impetus to the wheel of local and national development.
11- Improving the cost-effectiveness of collection by accelerating and expanding the digitization system, in a way that embodies true social justice among all taxable groups.
12 Reviewing and updating the accounting system gradually with the aim of achieving consistency and complete transparency in financial transactions and data.
Before the conclusion of the Council of Ministers meeting and the approval of the draft Finance Law for the year 2024, Mr. President appreciated the various measures that were taken, which led to an improvement in the state’s revenues despite the increase in expenditures. This is in view of the financial impact resulting from the recently approved increases in salaries, exemption from value added, and support. Purchasing power, stressing that the draft finance law for the year 2024 comes free of any new taxes that burden the citizen.
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