Mohamed Lebbou Unveils 2027 Finance Bill to Protect Purchasing Power
Algeria's Finance Minister Mohamed Lamine Lebbou detailed the 2027 Finance Bill, which aims to diversify public revenues while actively safeguarding citizens' purchasing power. The bill includes measures to enhance economic growth and ensure price stability across essential goods and services.
Finance Minister Mohamed Lamine Lebbou recently outlined the 2027 Finance Bill, emphasizing its primary goals of diversifying public revenues and attracting funds from the parallel market. The bill is designed to mitigate the effects of global inflationary pressures and, critically, preserve the purchasing power of Algerian citizens. Speaking during discussions at the National People's Assembly, Minister Lebbou affirmed that the proposed legislation reflects the state's social commitments, particularly in protecting low-income households, while simultaneously rationalizing public expenditures and supporting a transition towards a more productive economy.
To achieve revenue diversification, the bill introduces measures focused on encouraging productive investment and bolstering non-hydrocarbon sectors, with a particular emphasis on startups. These initiatives aim to broaden the economic and tax base without resorting to increased tax rates. Strategies include improving tax collection efficiency, enhancing tax administration performance, and actively combating tax evasion through improved oversight and compliance. Furthermore, the legislation prioritizes economic growth by accelerating major profitable projects in key sectors such as mining, transport, industry, agriculture, and food processing.
Protecting citizens' purchasing power remains a central tenet of the 2027 Finance Bill. The government is committed to ensuring price stability and the availability of essential goods, actively working to limit speculation and monopolies. This commitment is underpinned by continued support for widely consumed basic goods and services, the rehabilitation of wholesale markets, strengthened market controls, the establishment of strategic warehouses, and the development of digital oversight and early warning mechanisms. Minister Lebbou also highlighted the state's prudent financial management, noting that Algeria's public debt remains below emerging market benchmarks, with 99 percent being internal, ensuring significant economic autonomy and a balanced approach to managing any budget deficits without external financing.
