Algeria: Non-Hydrocarbon Growth - Algerian Companies Likely to Take Up Challenge

Algiers — The Algerian companies are likely to take up the challenge of the non-hydrocarbon economic growth by targeting more foreign markets, underlined Monday, in Algiers, Minister of Finance Abderrahmane Raouya.

Participating in a conference on the provisions of the finance law 2019 and their impacts on the company, organized by the Algerian Chamber of Trade and Industry (CACI), Raouya underlined that this law is part of the budget path aimed at rationalizing expenditure and strengthening budget revenues, by targeting a 3.2% non-hydrocarbon growth.

"Our companies will be able to take up the challenge in the local and foreign markets through the conquest of new market shares at the international level", he said.

He noted that the budget effort, which devoted in 15 years more than DZD30,000 billion to the investment in infrastructures, offers today an infrastructural armature which serves production and helps reducing regional disparities.

See also: Organizational measures, incentives in 2019 to support non-hydrocarbon exports.

He pointed out that the Algerian economy, despite the difficult financial circumstances, is still resilient.

For his part, CACI's head Mohamed Laid Benamor welcomed the provisions of the law, notably those in favor of the local production and exports, while expressing the industrialists' determination to take up the challenges of the country's growth.

The director of the fiscal regulation and legislation at the General Directorate of Taxes Kamel Touati explained to the participating operators the tax provisions of the finance law 2019.

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