Issuance of the Finance Law 2023 in the Official Gazette – Al-Hiwar Algeria

Today, Thursday, in the Official Gazette No. 89 of the Finance Law for the year 2023 was issued, which was signed, last Sunday, by the President of the Republic, Abdelmadjid Tebboune, after its approval in both chambers of Parliament.

The law, which is based on a reference price for a barrel of oil of 60 dollars and a market price of 70 dollars per barrel, expects revenues of 7901.7 billion DA (+4 percent), while payments will amount to 13786.8 billion DA, of which 9767 billion DA is the operating budget.

The law expects a growth rate of 4.1 percent and an inflation rate of 5.1 percent, while the country’s exports are expected to reach $46.3 billion and imports $36.9 billion next year. Objectives: Achieving more efficiency and transparency. The law enshrines the continuation of the state’s endeavor to control its financial balances, encourage investment, and promote social gains while continuing the dynamic of growth. This is within the framework of budgetary expectations for the next three years, according to the framework of Organic Law 15/18 related to financial laws, which is devoted in particular Budget forecasts for the 3-year period.