He chaired a meeting of the Council of Ministers.
President Abdelaziz Bouteflika signed the Finance Law for 2016 yesterday, Wednesday, at the Presidency’s headquarters in the presence of senior state officials and government members.
The law was prepared using a reference oil price of $37 a barrel and an exchange rate of 98 dinars to the dollar. It forecasts non-hydrocarbon growth of 4.6% and inflation of 4%.
The 2016 Finance Law forecasts total expenditure of 7,984.1 billion dinars, a decrease of 9% compared with 2015. This includes 4,807.3 billion dinars in operating expenditure and 3,176.8 billion dinars in capital expenditure.
The text forecasts total budget revenue of 4,747.43 billion dinars, with a stated change of 4.3% compared with 2015.
The president also chaired a Council of Ministers meeting in Algiers yesterday, Wednesday. Its agenda included political, economic, legal and social matters.
B. L.