The 750 Euro Grant Will Not Exclude Land Travelers
The government officially launched the 750 euro tourist grant disbursement after Eid el-Fitr, which will include land travellers.
Meanwhile, the Bank of Algeria is strengthening its presence by deploying special branches in international airports and continuing to open exchange offices in ports.
In light of these unprecedented financial movements, the Finance Committee of Parliament anticipates a possible decrease in the price of hard currency in the black market. Bets are placed on narrowing the gap between the official and parallel prices and curbing speculation.
In this context, the head of the Finance and Budget Committee of the National People's Assembly, Oussama Arabaoui, told 'Echorouk' that the Finance Committee, its chairman and members, had previously raised the issue of the tourism grant repeatedly with the successive finance ministers in the sector, given its importance to the Algerian citizen travelling abroad, and that the recent statement by Minister Abdelkrim Bouzred sends good news, especially since the instruction that will determine the date of the decision's entry into force and the methods of benefiting from the grant ordered by the President of the Republic, Abdelmadjid Tebboune, will be issued directly with Eid el-Fitr, and this grant will not exclude land travellers, which is considered a positive decision.
Arbaoui explained: 'As Chairman of the Finance and Budget Committee of the National People's Assembly, I welcome the announcement made by the Finance Minister during his presentation of the draft budget settlement for 2022, regarding the entry into force of the tourism grant after Eid el-Fitr at the latest, after it was proposed by the members of the committee in the discussion,' stressing that this announcement comes within the framework of the state's efforts to enhance financial transparency and reduce the gap between the official and parallel exchange rates, in line with the authorities' initiation of establishing exchange offices that have been set up in Algerian airports and ports, including allocating branches for the Bank of Algeria at Algiers International Airport, to enable travelers to benefit from the tourism grant exchange service.
The Chairman of the Finance Committee believes that this step reflects the government's commitment to developing the financial system according to a balanced vision that responds to citizens' aspirations and at the same time takes into account the stability of public finances, as it is expected to contribute to improving the purchasing power of travellers, reducing reliance on the parallel market, and strengthening the role of official financial institutions, in addition to supporting the banking sector by increasing official flows of hard currency, which enhances Algeria's image as a country that relies on modern and flexible financial policies.
The speaker went on to remind that the tourism grant file was of great interest to the Finance and Budget Committee, as it was raised in many interventions by committee members during previous meetings with the former minister, which reflects the MPs' preoccupation with this vital issue and their keenness to find practical solutions that respond to citizens' aspirations. Raising the tourism grant to 750 euros also confirms the state is keen to accompany citizens and provide appropriate conditions for their travel for various purposes, whether tourism, study or treatment, reflecting an integrated economic approach aimed at achieving a balance between responding to citizens' needs and ensuring financial sustainability.
'While we appreciate this initiative, we call for continuing reforms aimed at enhancing financial and social stability, and developing the banking system in line with economic transformations, as part of the government's efforts to enhance economic growth and achieve sustainable development,' Arabaoui added.
Finance Minister Abdelkrim Bouzred had previously announced on Thursday, during a general session of the National People's Assembly devoted to asking oral questions to several government members, that the travel grant in hard currency would officially come into effect at the end of March or immediately after holy Eid el-Fitr.
Previously, President Tebboune had ordered, in a cabinet meeting early last December, to raise the tourism grant to 750 euros per year for adult travellers, and 300 euros for minor travellers, while raising the Hajj grant to $1000.
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