Draft CFL 2020 on the agenda of a Government meeting

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Prime Minister, Abdelaziz Djerad chaired, on Sunday, a meeting of the Government by videoconference devoted to the examination of the preliminary draft Supplementary Finance Law (LFC) for the year 2020, indicated a press release from the Prime Minister’s Office.

Finance Minister Abderrahmane Raouya made a presentation on the proposals contained in the draft supplementary finance law for the year 2020, as well as the objectives expected from each of them, the same source said.

The minister also presented the economic and financial impacts resulting from the health crisis linked to the Covid-19 pandemic and the situation of the international hydrocarbon market, the document underlines.

The same source recalled that this draft CFL 2020 is part of the implementation of the Government’s action program and the commitments made by the public authorities in terms of lightening and simplifying procedures in order to improve the business climate and to boost investment, the development of start-ups and the fight against coronavirus through the temporary exemption from value added tax (VAT) and customs duties, of pharmaceutical products and medical devices and equipment used in the response to the Covid-19 pandemic.

Measures are also planned to strengthen the purchasing power of households through the renewal of the 50% reduction in IRG and IBS for the benefit of income earned in the southern regions.

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