Algeria: Coronavirus - President Tebboune Announces Series of 'Immediate Measures'

Algiers — President of the Republic Abdelmadjid Tebboune announced Sunday a series of measures to implement immediately as part of the measures taken to face the spread of Coronavirus.

These measures were announced in a meeting of the Council of ministers chaired by President of the Republic Abdelmadjid Tebboune.

The Council started its works by listening to a report presented by Prime minister on the governmental action during the last two weeks, before listening to a communication by Minister of Finance on the financial situation in the country, after which President of the Republic made his decision "to postpone the supplementary finance bill" until the assessment of the effects of financial measures at the governmental level as well as the evolution of the situation in the world, said the source.

President Tebboune also gave an instruction to stop the conclusion of study and service agreements with foreign offices, which will save Algeria about USD7 billion, in addition to the postponement of the launch of projects whose works haven't been yet launched, except for shadow areas projects as well as the project relating to the construction of a cancer hospital in Djelfa.

In this regard, President Tebboune ordered to take into consideration, when elaborating the supplementary finance law, the losses incurred by the operators because of the spread of Coronavirus, while instructing Sonatrach group to reduce from USD14 to 7 billion the exploitation expenses and investment expenses in order to preserve exchange reserves.

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