Algeria Eyes State Spending Boost in 2024 as Elections Approach
- Authorities plan higher spending on salaries, low-cost housing
- President Tebboune hasn’t said if he’ll run in vote next year
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Algeria is set to ramp up spending by 11% next year, allocating more to state salaries and affordable housing as the energy-rich OPEC nation prepares for presidential elections.
The 2024 budget approved Tuesday by parliament sees overall expenditure rising to 15.3 trillion dinars ($114 billion) from 13.7 trillion dinars in the previous year’s document. The North African country is a major supplier of gas to Europe, and about 40% of the budget will be funded by energy shipments, according to a copy of the document see by Bloomberg.