The bill provides for the implementation of the first segment of the “budgetary trajectory 2017-2019,” adopted by the Council of Ministers, and which will support the “New Development Model,” according to the Council of Ministers meeting’s statement, which specifies that the finance bill shows the authorities’ will to back both the economic development and State’s social development efforts, especially the support to the underprivileged.
Based on USD50 a barrel, the draft budget shows an amount of DZD5,635.5 billion of revenues, up by about 13% compared with the financial year 2016.
Ordinary taxation will bring in DZD2,845.4, up 3.5%, while oil taxation revenues are expected to reach DZD2,200.
In expenditure, the draft budget shows an amount of DZD6,883.2, of which DZD4,591.8 are devoted to the operating budget and DZD2,291.4 to the capital budget.
“In the budget section, the finance bill aims to support public spending, which has undergone, for more than two years, a sharp drop in hydrocarbon revenues.”
In spite of financial constraints, the budget bill 2017 “shows State’s commitment to social justice and national solidarity,” the statement said.
A total of DZD1,630.8 will be allocated to social transfers (23.7% of the 2017 budget).
Source: Council of Ministers approves finance bill 2017
