Algiers – Minister of Finance Abdelkrim Boualzerd announced on Thursday that sweeping reforms within the finance sector have reached an “advanced” stage, emphasizing significant progress in the generalization of digitalization across both administrative functions and financial transactions.During a plenary session of the Council of the Nation, chaired by Council President Azzouz Nasri, the Minister addressed inquiries from council members regarding the 2022 Budget Settlement Law. Mr. Boualzerd detailed that the comprehensive reforms are transforming key areas including taxation, budget administration, the public treasury, and customs. The reforms also extend to the financial and banking system, with a strong focus on digitizing transactions and reducing reliance on cash payments.In this regard, the Minister affirmed that the drive to modernize electronic payment methods has reached a “pivotal stage,” particularly following the establishment of the High Commission for Digitalization. He added that the finance sector anticipates “even greater progress in this area” by the end of the current year.Responding to concerns raised by council members, Mr. Boualzerd provided several key clarifications:Exchange Bureaus: While the Bank of Algeria has issued a regulatory framework for the establishment of exchange bureaus, the Minister noted that “no license applications have yet been registered”.Public Procurement: The executive text for the new law governing public procurement (Law No. 23-12) is currently being drafted. Mr. Boualzerd assured that the new regulations will enhance flexibility and respond to the needs of all involved parties, including government departments, ministries, and institutions across all sectors.Tax Collection: Addressing the issue of “weak tax collection” in 2022, the Minister explained that the economic impact of the COVID-19 health crisis meant that collections “were not at the same pace” as before the pandemic. Many economic operators had deferred payments due to reduced activity during that period.Furthermore, the Minister revealed a major initiative to enhance oversight of state-funded projects. He announced that work is underway to establish “a system, to be implemented soon, for monitoring ongoing projects through an internal digital platform,” which may include the participation of elected officials.This new mechanism, expected to be finalized “within a month and a half,” will introduce an advanced model for management and follow-up. It will enable the precise tracking of grassroots projects across various sectors, monitoring their completion deadlines and costs to ensure efficiency and transparency.
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