Algeria – The “work plan” of Prime Minister Ahmed Ouyahia is expected to garner wide support at parliament where it will be up for a vote on Sunday, predicted observers of the political situation in the North African country.
The premier’s document acknowledges that the Algeria people will face difficulties in 2018 due to the lack of financial resources.
Islamist lawmakers announced that they will oppose the plan that was drafted during President Abdelaziz Bouteflika’s fourth term in office. Their influence will be however limited at parliament because they are in the minority.
Ouyahia’s plan expresses government skepticism about the possibility of improving the country’s income from the selling of fuel during the next two years, revealed a copy of the document obtained by Asharq Al-Awsat.
This has prompted the PM to voice his intention to amend the loan law through printing more hard currency.
The possibility to obtain a loan from the Central Bank has not been ruled out.
Economic and financial experts predicted that this step will create great inflation and spark a rise in the majority of products, which will ultimately keep the deficit as it is.
Furthermore, a local newspaper reported Ouyahia as saying that should the Central Bank fail to print more hard cash, the government may not have the sufficient funds to pay the salaries of employees for November.
Asharq Al-Awsat
Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.
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