ALGIERS, Dec. 11 (Xinhua) -- Algerian interim president Abdelkader Bensalah on Wednesday signed the law on state budget for 2020, state media reported.
The budget law expects a 7.2 percent deficit of gross domestic product despite cutting the spending by 9.2 percent, Finance Minister Mohamed Loukal was quoted as saying.
The law predicts an overall economic growth of 1.8 percent, and an inflation rate of 4.08 percent.
The budget maintains state subsidies on fuel and foodstuffs of large consumption including milk, wheat, in addition to housing and medicine, while it raises taxes on wealth, cars and tobacco.
The ENTV station noted that Bensalah signed the law following a meeting with Prime Minister Nourredine Bedoui. The law was passed by the upper and lower houses of parliament in November.
