The Finance and Budget Committee of the National People’s Assembly has raised the issue of lifting the tourist allowance for Algerians traveling abroad. Currently set at around one hundred euros or a little less in exchange for 15,000 Algerian dinars, this allowance is not even enough to cover taxi costs from the airport to the hotel in a European country.
In a closed-door meeting with officials from the financial and monetary sector to discuss the new Monetary and Banking Bill, MPs confirmed that it is time to lift this allowance in line with the important decisions contained in the new bill, such as the opening of exchange offices, the creation of an Algerian digital currency, digital banks, payment intermediaries, the relaunch of the stock market and other provisions. The President of the Professional Association of Banks has recorded this request and it will be submitted to the Governor of the Bank of Algeria during a meeting scheduled for next Tuesday.
Finance and Budget Committee member Abdelkader Berich said the tourism subsidy file is important and that the Governor of the Bank of Algeria will be questioned about it when he meets with the committee next Tuesday.
Berich also stresses the need to increase this subsidy, which does not even cover hotel or taxi costs abroad, and calls for an in-depth study to determine the future value of this subsidy based on the situation. the economic environment in Algeria and rising world inflation prices.
A member of the Finance Committee believes that the restoration and increase of the tourist subsidy must be part of an overall vision of the reform of the exchange system in Algeria, in terms of regulation of the foreign exchange market, approval of offices change, eliminating informal and illegal currency markets and drying up their sources.
Finally, the lifting of the tourist allowance for Algerians traveling abroad will be a key topic to watch during the discussion of the monetary and banking bill, as elected officials demand that this allowance be raised accordingly.
