The decline of the Algerian dinar drags the Minister of Finance to Parliament – New Algeria

The issue of printing money “the Algerian dinar” in the era of the previous regime has returned to the forefront, as the parliamentary representative of the Movement for Society for Peace, Beljilali Ahmed, directed a written parliamentary question to the Minister of Finance. Dear Fayed He asks him about the value of the money printed during the era of the previous regime.

The representative began his parliamentary questioning by talking about the negative effects of printing money, and said at the beginning of the questioning that: “Determining the amount of money circulating in the national market is governed by precise economic determinants, and once they are neglected, it is absolutely impossible to avoid the negative effects on the national economy and its value.” Uncle valuefor him”.

The accountability holder said that in “recent years, to cover the expansion of public spending in the absence of a similar increase in expected and realized revenues, new monetary issuance (non-traditional financing) was resorted to, which led to negative effects that cannot be overlooked at all and primarily affected purchasing power and value.” Algerian dinar”.

Ahmed Beljilali concluded the text of the written accountability with a direct question to the Minister of Finance, Aziz Fayed: “What are the determinants and values ​​​​for the monetary mass in circulation, and what is the final and suspended value of the cash issuance, and the percentage, period, and uses of this issuance.”

He also asked about “the deadlines for fulfilling this loan to the Central Bank, the repayments that have been made, the extent of fulfillment of the obligations and repayments that have been made, the extent of fulfillment of the contractual obligations for this lending, and what is the policy followed and the procedures followed to preserve the value of the Algerian dinar.”

During his regular meeting with representatives of the national media, President Abdelmadjid Tebboune attributed the reasons for the decline in the value of the dinar to irrational circumstances characterized by the pumping of money by printing banknotes, the consequences of which we are suffering today.

Regarding raising the value of the national currency, the President stressed that it will be done through economic measures, which includes mechanisms exchange rate At the level of the Central Bank, pointing out the role of this measure in reducing the value of imports and thus supporting purchasing power.

The country’s first judge revealed that “The value of the dinar It decreased in a certain context,” and in “irrational circumstances, characterized by the pumping of money by printing banknotes, the consequences of which we are suffering today.”

The President seemed optimistic about the recovery of the national economy in view of the increase in the volume of investments in the country, citing “the large number of projects registered at the level of the Algerian Investment Promotion Agency, which amounted to about 6,000 investment projects, and according to President Abdelmadjid Tebboune that “half of the projects have been launched.”

It is expected that most of these projects will be implemented within 2026, which will allow the creation of wealth and a huge number of… Job positionsThe President of the Republic added, in the same context, that a significant number of foreign traders are interested in investing in Algeria due to the stability it enjoys.

In the same context, the President of the Republic affirmed the state’s endeavor to reduce the inflation rate to less than 4 percent, in order to preserve the purchasing power of the citizen, explaining that “the inflation rate, which currently ranges between 7 and 8 percent, must be reduced to 4 percent at the latest.” .

According to the President of the Republic’s statement, “fighting inflation is one of the three axes that the state is working on to raise the purchasing power of citizens, in addition to the social axis, which includes raising wages and approving an unemployment grant, as well as “defending the value of the Algerian dinar.”

Fouad Q