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August 9, 2022 | 3 years ago
Positive developments in key SFA 2022 economic indicators: Good Governance
The Supplementary Finance Act
(SFA) 2022, adopted by the Council of Ministers on 19 July 2022, was published
on 04 August in Official Journal 53, a 55-page document with appendices,
structured in two parts, the first part: ways and means of financial balance is
divided into four chapters: Chapter 1, Budget Implementation and Treasury
Operations Provisions; Chapter 2 tax provisions; chapter 3 deals with other
resource provisions and chapter 4 deals with parafiscal charges. The second
part deals with the budget and financial operations of the State and is divided
into four chapters: Chapter 1 analyses the general state budget; Chapter 2,
various budgets; Chapter 3 deals with the special accounts of the Treasury and
Chapter 4 deals with miscellaneous provisions applicable to the financial
operations of the State…
The current geo-strategic tensions, which according to the IMF can lead to a recession in the world economy with a negative impact on the oil/gas price between the end of 2022 and 2023, currently due to the large budget deficit in Europe and inflation, the euro/dollar price is 1.02 as of 29 July 2022, this allows a greater purchasing power for Sonatrach's revenues. Exports are denominated in dollars and more than 50% of imports come from Europe, this has a positive impact on the value of imports, compared to the 2021 quotation, a proportional decrease, for the same volume but subject to stabilization of international prices...
A finance law is only a static accounting document and cannot replace both macroeconomic and macro-social strategic perspectives, not to mention the geostrategic tensions that influence these indicators, which are sorely lacking. To understand it, it must be part of a dynamic vision of society requiring good governance and the evolution of global economic changes, particularly energy due to Algeria's heavy dependence on hydrocarbon revenues (98% of foreign exchange revenues with derivatives).
August 9, 2022 | 
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