Abdelaziz Bouteflika, the Algerian President approved the draft general budget for next year, presented to him by the government of Prime Minister Ahmed Ouyahia.
According to the preliminary version of the General Budget Law of 2019, the budget of support was increased by 0.7 percent, where the value of social transfers scheduled to 1.77 trillion dinars (16 billion dollars), compared to 1.76 trillion dinars for the current year 2018. According to data, the support for families, housing and health accounted for 64% of the total support budget.
The draft budget of Algeria next year showed unprecedented pessimism. Whereas the public spending will be reduced to 8,500 billion dinars ($ 75 billion), compared to 8650 billion dinars this year (76.5 billion dollars). Which means a decline of 1.5% equivalent to 150 billion dinars. The Algerian government also expects the foreign exchange reserve to fall further to $ 62 billion by the end of 2019, from $ 85 billion at the end of the current year.
The Algerian government expects the economy to grow by 2.6 percent in 2019, down from a 4 percent growth forecast this year due to lower spending.
Source: (Al-Sharq Al-Awsat newspaper, Edited)
