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December 12, 2023 | 2 years ago
2024 Finance Act: Almost DA173 billion allocated to the new provinces
A budget of almost DA173 billion has been allocated to the ten new provinces in the 2024 Finance Act, Finance Minister Laaziz Faid announced on Tuesday in Algiers.
The ten new provinces of the South will benefit from payment credits estimated at DA172.8 billion, while the overall commitment authorisation amounts to DA228.1 billion, according to the figures presented by Mr Faid in response to questions and concerns raised by senators as part of the debate on the new finance bill during a plenary session chaired by Salah Goudjil, President of the Council of the Nation, in the presence of the Minister for Relations with Parliament, Basma Azouar, and members of the government.
The Minister specified that 55% of these amounts would be earmarked for investment expenditure (DA124.6 billion in commitment authorisations and DA69.1 billion in payment appropriations), mainly affecting the Education, Housing, Public Works, Agriculture and Health sectors.
"Overall, in the State budget for 2024, DA 596.73 billion in commitment authorisations and DA 511.24 billion in payment credits have been allocated to the provinces of the South, which constitute 22% and 20% respectively of the total allocations to the provinces", he continued.
With regard to the financing of public investment operations, the Minister affirmed that the financing is not carried out exclusively by using the final allocations granted in the 2024 Finance Act, but also by resorting to provisional allocations, bank credits and the National Investment Fund (FNI) to finance the implementation of structuring and strategic projects for the national economy. Mr Faid pointed out that, by way of example, investment projects in the transport sector will be financed in 2024, with the aim of acquiring materials and equipment for the Gara Djebilet rail and integrated phosphate projects, as well as other large-scale projects using NIF resources.
December 13, 2023 | 
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