In a regular meeting with representatives of the national press, Tebboune said: “We were the first country after Europe to establish this allowance, so that young people would receive a semi-stipend to preserve their dignity.”
He continued, “The unemployment grant is estimated at 13,000 Algerian dinars (about 82 euros), and it will be poured out starting in March, in addition to health coverage. This allowance will be calculated in the 2022 budget.”
The unemployment rate in Algeria is about 15 percent. The minimum wage in Algeria is 20 thousand dinars (125 euros), and therefore this grant is equivalent to more than half of it.
Tebboune stressed that the rise in prices in international markets has led to the fact that the funds allocated to purchase certain quantities of grains and legumes are currently not sufficient to obtain only a third of these quantities.
He referred to the suspension of taxes at a rate of five percent imposed on basic consumer items.
The Algerian president said that “bakers will not pay the tax on turnover starting from the month of March”, APS reported.
Algeria, the fourth largest economic power in the African continent, is affected by fluctuations in oil prices due to its dependence on oil revenues, which represent more than 90 percent of its foreign revenues.
In November, Algerian lawmakers approved the 2022 finance law that abolishes the decades-old generalized subsidy system for basic products.