The text of the law included raising the expenses of the operating budget to 7,697.01 billion dinars (53.2 billion dollars), compared to 6,311.53 billion dinars (43.6 billion dollars) in the initial finance law for 2022.
The law, which was published in the Official Gazette, attributed the increase to the rise in oil and gas prices, by 3,211.92 billion dinars (22.2 billion dollars), compared to 2,103.90 billion dinars (14.5 billion dollars) in the initial finance law, and the rise in regular resources 3788.92 billion dinars ($26.2 billion) compared to 3579.31 billion dinars ($25 billion) in the initial finance law.
The supplementary finance law included several measures to protect purchasing power, including exemption from customs rights and value-added fees, starting from January 1, 2022, for raw sugar with tariffs, when subjecting it to exceeding the price ceiling specified by regulation.
Locally produced white sugar is exempted from the value-added tax, starting from January 1, 2022, in the various stages of its distribution, when the price ceiling is exceeded.
The law also included an article obligating every peasant practicing grain cultivation, benefiting from government support, to sell his production of both types of wheat and barley to the Algerian Occupational Office of Cereals.
In early August, Algeria issued a new investment law in the country, with the aim of regulating investment and the rights and obligations of investors, and strengthening the incentive systems applied to investments in economic activities in the country.
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