Algerian Finance Minister Mohammed Lamine Lebbou has provided clarification on Article 218 of the 2027 Finance Bill, which allows for the revision of fuel prices. The article sparked concerns among lawmakers during its review at the National People's Assembly. Lebbou stated that the provision does not imply a planned increase in fuel prices for the upcoming fiscal year. The minister emphasized that the 2027 budget prioritizes preserving purchasing power.
Lebbou expressed surprise at the strong reactions to the article, given the government's commitment to protecting citizens' purchasing power. He assured that any decision to increase fuel prices would have been explicitly included in the budget and evaluated for its financial implications. The minister stressed that if the government intended to raise fuel prices, it would have been legislated and debated in the budget.
The proposed revision of fuel prices, as per Article 218, is limited to specific industrial activities, according to Lebbou. However, he did not provide details on the targeted activities or the modalities of the revision. The minister highlighted that the term "revision" can imply both increases and decreases, dismissing interpretations that the provision signals a price hike.
Lebbou underscored that modifying fuel prices requires a thorough assessment of its impact on households. In the current economic context, where purchasing power is under pressure, a price increase could have far-reaching consequences on citizens' expenses and the costs of various products and services.
The minister described the revision of fuel prices as a "serious matter" due to its direct effects on the population. He emphasized that, as a social state, preserving purchasing power is a core aspect of the government's agenda. Lebbou's statements aim to alleviate concerns about potential fuel price increases.
The clarification comes amid a challenging economic environment, where managing fuel prices is crucial for maintaining social stability. The government's priorities in the 2027 budget include protecting citizens' purchasing power and ensuring economic stability.
Lebbou's address to parliament aimed to provide transparency and clarity on the government's intentions regarding fuel prices. The minister's emphasis on preserving purchasing power reflects the government's commitment to mitigating the impact of economic challenges on citizens.
Key points
- The Algerian government has no plans to increase fuel prices in the 2027 budget.
- The revision of fuel prices, as per Article 218, is limited to specific industrial activities.
- The government prioritizes preserving citizens' purchasing power in the 2027 budget.
