Algeria adopts the largest budget in its history

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Algeria officially signed the 2024 budget law, which is considered the largest in its history with total public expenditures amounting to $113 billion, with an expected deficit estimated at about $45 billion.

The Algerian President, Abdelmadjid Tebboune, has signed the 2024 budget law, which is characterized by increased investment spending, reduced taxes for emerging enterprises, and increased wages, in addition to continued support for citizens.

According to the law, budget revenues in 2024 are expected to reach $67.7 billion, anticipating an average increase of about 4.2% between 2025 and 2026, thus reaching $70.9 billion and $73.5 billion, respectively.

With regard to petroleum revenues, they are expected to decrease by 8.9% in 2024 compared to 2023, reaching $26 billion in 2024, then to $26.2 billion in 2025, and $26.5 billion in 2026.

The new budget expects public expenditures of up to $113.6 billion in 2024, $118.3 billion in 2025, and $116.8 billion in 2026.

In the context of economic forecasts, the 2024 Budget expects economic growth of 4.2% next year, with an increase in the performance of all sectors, including services, agriculture, construction, irrigation, public works, and industry.

The economic growth is expected to record 3.9% in 2025 and 4% in 2026, supported by good performance of all sectors, with the oil sector expected to recover thanks to exports of natural gas, liquid natural gas and liquid petroleum gas.

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