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Algeria's finance minister rules out foreign borrowing and targets parallel-market cash in 2027 budget

6 November 2026 · Algeria Now

Algeria's finance minister rules out foreign borrowing and targets parallel-market cash in 2027 budget — Photo : upload.wikimedia.org (adresse collée)

Finance Minister Mohamed Lamine Lebbou has ruled out external borrowing to cover Algeria's 2027 budget deficit, telling the National People's Assembly (APN) that the state will instead mobilize domestic revenue and try to draw money circulating in the informal economy into official channels.

Replying to deputies on the 2027 finance bill, Lebbou said public debt remains below the reference threshold for emerging markets and that 99 percent of it is owed domestically. To narrow the deficit, the government plans to raise more revenue, borrow at home, draw on the Revenue Regulation Fund (FRR), rationalize spending and widen the tax base. It also intends to diversify its financing tools, including through sovereign sukuk, which are Islamic bonds.

The minister said the bill raises no general tax on households and keeps support for essential products. Wholesale market renovation, strategic stocks and digital tools are meant to curb speculation, while a shift to targeted subsidies depends on completing the digitization needed to identify beneficiaries. One measure does raise a charge: the land registration tax rate will go up from 1 to 2.5 percent, on more than 800,000 registrations a year.

For the eleven newly created provinces, the bill earmarks 152 billion dinars in commitment authorizations and 132 billion in payment credits for essential equipment and infrastructure.

The government projects growth of 4.2 percent in 2027, with spending of 17,882.6 billion dinars in payment appropriations against revenue of 9,251.1 billion. The budget assumes a reference oil price of 60 dollars a barrel.

Deputies welcomed the wage increases and social transfers in the text and asked for more support for investors and start-ups. The assembly is due to vote on the bill on 16 November.

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