Algeria’s Minister of Finance, Abdelkrim Bouzerzour, announced on Sunday in Algiers that approximately 80% of the sovereign sukuk issued by the Public Treasury in late January have already been subscribed, marking a landmark milestone in the country’s financial history.
Speaking exclusively to dzwatch during a public session of the Council of the Nation dedicated to discussing the 2023 budget settlement law, the minister confirmed that within just two and a half months, subscriptions exceeded 80% of the 296.65 billion DZD target.
Bouzerzour praised the strong market response to Algeria’s first-ever sovereign sukuk issuance, describing it as a pivotal step toward advancing financial inclusion nationwide.
Launched on January 27, the Ijara-Usufruct sukuk are issued in denominations of 100,000 DZD and 1,000,000 DZD, carry a 6% annual yield over a 7-year term, and will fund major public infrastructure projects. The subscription window has been extended to April 30.
The minister also highlighted ongoing government efforts to rationalize public spending, digitize fiscal operations, and strengthen investment monitoring mechanisms.
