Algeria cancels economic measures by former government of Ouyahia and Sellal

0
671 907
Advertisement

President Abdelmadjid Tebboune has announced a set of economic stimulus decisions that have eliminated the remaining measures that the government predecessors Ouyahia and Sellal had taken during their reigns.

At a meeting of the Digital Cabinet chaired by the President, it was decided that « rule 51/49 of partnership with foreigners » would be reviewed, « except for strategic sectors ».

Algeria adopts in all projects and economic sectors a rule of foreign partnership on the basis of an allocation of 51% to the Algerian part and 49% to the foreign part.

Algeria adopted this rule in the general finance law of 2009, during the third mandate of President Bouteflika.

Tebboune has also decided to cancel the tax and customs exemptions for the automotive manufacturing and assembly sector approved by the Ouyahia and Sellal governments years ago.

In 2013, Algeria stopped importing new cars, granting tax and customs exemptions to auto manufacturing and assembly plants to locate the manufacturing process. It has been criticized for giving factory owners tax breaks without successfully establishing a local auto industry.

Following the decision made on Sunday, new cars can now be imported.

Advertisement