MPs underline need to diversify national economy

FINANCE BILL 2014 PRESENTED AT LOWER HOUSE

Members of the National Popular Assembly (Lower House) stressed Wednesday during the debate on 2014 finance bill the need to diversify national economy which is largely relying on hydrocarbon incomes.

Deputy Hadjirah Khelifa from the Front of justice and development (FJD) said that Algeria’s oil tax system decreased during the last months due to dwindling of oil prices in the global markets that adversely affect the national economy.
For his part, Rachid Mouni from Alliance of Green of Algeria (AAV) affirmed that relying on oil incomes “misrepresents national economy. Financial and economic indicators place Algeria in a comfortable position while reality is different as economy is still vulnerable.
Besides, he called for beneficiating from Algeria’s oil incomes and economic well-being in order to implement development programs and build a productive economy.
During the debate on the bill, members of the National People’s Assembly called for deletion of some provisions mentioned the bill like the prohibition for car dealers to sell vehicles through credit and exemptions and reductions of taxes, reaffirming the need to accompany these measures by a report attesting their effect on the economy.
The evening session will be devoted to questions from the presidents of the parliamentary groups.

APS