Petroleum Africa
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Monday, November 21, 2016
The Algerian government’s plans to raise taxes and gasoline prices, as well as put a freeze on public sector salaries has led to more than one group threatening to strike. The country is having a hard time meeting ends meet as its main revenue generator, oil and gas sales, are bringing in considerably less funds to the budget. The country’s budget has dropped along with the price of crude.
The government is currently debating its 2017 budget, which features a 17% sales tax. The budget also calls for higher gasoline prices and higher taxes on cigarettes,as well as a possible freeze on salaries which has teaching and medical professionals threatening to strike. All of these issues could lead to public unrest in the country.
The low crude oil prices of the past couple of years has led to a fiscal deficit soaring to 15.7% of GDP this year from 1.4% of GDP back in 2013.
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