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President Tebboune calls for speeding up financial reform to save USD20 bn in 2020

Published on : Monday, 13 July 2020 12:27   Read : 3 time(s)
President Tebboune calls for speeding up financial reform to save USD20 bn in 2020

ALGIERS- President of the Republic Abdelmadjid Tebboune instructed the government, at the Council of Ministers meeting held Sunday, to accelerate the financial reform through several measures allowing the State to save 20 billion dollars by the end of the year.

In addition to these expected savings, the minister of Finance, Aimen Benabderrahmane, said at the meeting that the country was ready to inject "immediately" for investment and economic recovery the equivalent of 1,000 billion dinars, to which will be added an "available" 10 billion dollars, an announcement welcomed with satisfaction by President Tebboune.

Other measures have been taken to "eliminate over-billing" and "recover the money available in the informal market," according to the statement.

Among the axes of the financial reform, whose acceleration is expected to save 20 billion dollars in 2020, Tebboune insisted on banking, fiscal and customs reform, the control of imports and the recovery of money from the informal market.

He also instructed the departments concerned to reduce the level of imports, especially services and maritime transport of goods, to preserve foreign exchange reserves. 

 

Last modified on Monday, 13 July 2020 15:36
President Tebboune calls for speeding up financial reform to save USD20 bn in 2020