The state budget for the year 2022 is set at 57,291 million dinars (MD), up 3.2% compared to the amending finance law of 2021.
The budget deficit, excluding donations and income from confiscations, amounts to 9 308 MD, or 6.7% of GDP, Minister of Finance Sihem Boughdiri Nemsia said Tuesday.
Speaking at a press conference held by the Prime Ministry to present the Finance Act 2022, she added that taking into account the donations and income from confiscations, the budget deficit should amount to 8,548 MD, or 6.2% of GDP.
She added that the financing needs are set at 18,673 MD and the needs for financing of the treasury at 1,310 MD. This requires the mobilisation of loans of the order of 19 983 MD distributed between 12,652 MD of external loans and 7,331 MD of internal.
The outstanding public debt would stand at 114,142 billion in 2022, which represents 82,6 % of the GDP, against 85,6 % envisaged by the amending finance law of 2021.
Expenditures for the 2022 budget are estimated at 47,166 MD. They relate to a rise wage expenses of the order of 1,228 MD (6%), expenses of subsidies of 1235 MD (20%) and the interest of the public debt of 544 MD.
The Minister also pointed out that the 2022 budget was drawn up on the basis of a growth rate at constant prices of about 2.6% and an average barrel price of 75 dollars.
This budget also provides for the implementation of several economic and fiscal reforms to mitigate the slippage of public finances and the conclusion of a new agreement with the International Monetary Fund (IMF).
Nemsia also said own resources would amount to 38,618 MD in 2022, up 12,1% compared to the amending finance law of 2021. These resources are distributed up to 35,091 MD of tax resources, 3,067 MD of non-tax resources and 460 MD of external donations.
Concerning fiscal resources, the Minister said these resources estimated at 35 091 MD for the whole year 2022, would see a 13.9% growth compared to the amending finance law of 2021, following the implementation of several measures aiming at increasing state resources and streamlining expenditure.
As for non-tax resources and donations, she said they wound amount to 3,527 MD and would come mainly from corporate income (873 MD), oil revenues (628 MD) and the Algerian gas royalty (659 MD).
As regards budget expenses, the Minister said salary expenses were set at 21,573 MD, against 20,345 MD envisaged by the amending finance law of 2021, that is to say an increase of 6%, knowing that a series of measures were put in place and would allow savings of the order of 1,559 MD.
Subsidy expenses were set at 7262 MD, that is to say an increase of 1 235 MD. These expenses are distributed between the subsidies of the basic products (3771 MD), hydrocarbons (2891 MD) and transport (600 MD).
The Minister also, pointed out that the interventions apart from the subsidy were set at 3,055 MD, of which 964 MD as support to the low-income groups.
Investment and development-related expenses are about 8,364 MD and those of the interest of the debt were set at 4 326 MD.
