{"id":27398,"date":"2018-01-11T13:32:55","date_gmt":"2018-01-11T13:32:55","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2018\/01\/11\/algeria-adopts-a-tough-budget-act-for-2018\/"},"modified":"2020-08-11T11:29:10","modified_gmt":"2020-08-11T09:29:10","slug":"algeria-adopts-a-tough-budget-act-for-2018","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2018\/01\/11\/algeria-adopts-a-tough-budget-act-for-2018\/","title":{"rendered":"Algeria adopts a tough Budget act for 2018"},"content":"\nFollowing the global drop in oil prices in the last years, the economy of Algeria was seriously hit by the financial crisis. As part of its strategy, the government is relying on the oils exportations in the budget funding, particularity since President Abdelaziz Bouteflika\u00a0came to power in 1999.\nIn 2018, things will actually change. The new draft is expected to bring an alternative to the \u201coils revenues dependency\u201d which totally encloses the country in a bad economic outlook. The solution may come from a new conceptualization of the way of making an expense and operational budget in Algeria.\nThe administration\u2019s priority is to stop the sovereign fund\u2019s bleeding and restoring the trade balance. Thus, its &#8220;witch&#8217;s potion&#8221; in 2018 could be a progressive increasing of tax revenues beside the importation restrictions over the ban list of more than\u00a0900 products.\nThese new austerity measures will be reflected in the decline of the expenditure budget to 62 billion euros in 2018, 59 millions euros in 2019 and 56 million euros in 2020. Furthermore, the act provides the raising of the taxes\u2019 rates of products such as vehicle fuels (tax on petroleum products TPP), tobacco products (additional tax) and energy-intensive white goods.\nDiscover out our latest videos about the economic news in Algeria:\n\u00a0\n\n","author":78,"featured_media":3195,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5761,5751,2961,5750,5759,5762],"location":[5547],"class_list":["post-27398","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-decision-makers","tag-economy","tag-institutions","tag-news","tag-politics","tag-trending","location-algeria"],"short_url":"","have_related_news":null,"chapo":"Since the beginning of the year, the 2018 Budget act is ongoing in Algeria and it is not so joyful for citizens who don\u2019t earn a good living as it allready has a negative impact on their purchasing power.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/budget-algerie.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/budget-algerie.jpg 550w","sizes":"550px","alt":"Algeria adopts a tough Budget act for 2018 1","width":550,"height":360,"ratio":0.63,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/budget-algerie-951x598.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/budget-algerie-951x598.jpg 1170w","sizes":"1170px","alt":"Algeria adopts a tough Budget act for 2018 1","width":1170,"height":658,"ratio":0.63,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Algeria adopts a tough Budget act for 2018 - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Following the global drop in oil prices in the last years, the economy of Algeria was seriously hit by the financial crisis. 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