Economics Affairs

Babaammi partakes in World Government Summit, Arab Fiscal Forum in Dubai

APS - 12 February 2017

ALGIERS- Minister of Finances Hadji Babaammi has participated Sunday in Dubai, the United Arab Emirates, in the 5th World Government Summit, as well as in the opening session of the 2nd Arab Fiscal Forum, said the Ministry in a statement.

The Summit has brought together representatives of 125 countries and heads of international financial institutions as well as prominent personalities, added the ministry's statement.

Issues related to climate change and environment, sustainable development, food security and Arab youth will be discussed during the meeting, the statement said.

Babaammi also participated in the opening session of the 2nd Arab Fiscal Forum, and chaired a session on how Arab countries could overcome obstacles regarding the mobilization of revenues.

During the session, the Finance minister underlined the urgent needs of many Arab countries for sustainable revenues in order to boost medium term growth, especially in the fields of infrastructures, health and education, said the statement.

Babaammi recalled the "concrete measures" decided by Algeria to develop its non-hydrocarbon revenue system to cope with the decline in oil prices. 

For her part, Christine Lagarde, Managing Director of the International Monetary Fund (IMF) underlined the need for the economies of Arab countries to develop a comprehensive fiscal policy defining objectives in terms of revenues.

In this regard, she mentioned Algeria as "a good example in the control of budget policy."