The Economic and Financial Affairs Committee of the Council of the Nation held a meeting on Monday, chaired by Noureddine Tadj, the committee’s chairman. The session was dedicated to hearing from Abdelkrim Bouzred, Minister of Finance and government representative, in the presence of Mourad Lakhal, Vice President of the Council of the Nation in charge of legislation and relations with the People’s National Assembly and the government, and Nadjiba Djilali, Minister of Relations with Parliament. The meeting was part of the study of the draft law concerning the 2023 budget settlement.
Minister of Finance Abdelkrim Bouzred presented the key macroeconomic indicators recorded during 2023 to the committee, particularly regarding the economic growth rate, the average price of a barrel of crude oil on the global market, and the average exchange rate. He also discussed the development of exports and imports, the trade balance, foreign exchange reserves, and public debt obligations.
Regarding the implementation results of the 2023 Finance Law, the minister explained that the national economy recorded a real GDP growth of 4.1 percent, compared to 3.6 percent in 2022. He also noted that budget expenditures, under the 2023 corrective finance law, saw an increase of 920 billion dinars, or 6.67 percent, compared to the original finance law.
Concerning budget resources, Abdelkrim Bouzred stated that they reached 9,017.44 billion dinars in 2023, equivalent to 26.80 percent of the GDP. This represents an increase of 1,772.57 billion dinars, or 24.47 percent, compared to the achievements of 2022. Hydrocarbon tax revenues collected during the same year amounted to 5,583.67 billion dinars.
Regarding budget expenditures, the government representative indicated that they settled at 10,592.22 billion dinars, representing 31.49 percent of the GDP. This marked a decrease of 4,114.61 billion dinars, or 27.97 percent, compared to the corrective finance law estimates, while showing a slight increase of 98.20 billion dinars, or 0.93 percent, compared to 2022.
Following the presentation, committee members raised several questions and observations regarding the provisions of the text, and the government representative provided further clarifications and explanations.
The Economic and Financial Affairs Committee of the Council of the Nation is currently preparing its report on the draft law to be presented later in a plenary session, which the Council will dedicate to the presentation, discussion, and approval of the text.
