ECONOMY

Public banks to open branches in African countries soon

ALGIERS- Minister of Finance Aïmene Benabderrahmane announced on Saturday in Algiers, the opening in the coming weeks of branches of Algerian public banks in many African countries.

The opening of representations of these banks in many African countries having close relations with Algeria aims at promoting investments and exports, in accordance with the commitments of President of the Republic, Abdelmadjid Tebboune for change," Benabderrahmane said on the sidelines of the Cultural Economy Forum.

Affirming that the President of the Republic has given "his approval" for this operation, the Minister of Finance declared that the ministry "will enlarge those measures to facilitate exports", recalling that the Finance Law 2021 "provides for export support mechanisms in all economic sectors."

The minister cited "a framework to facilitate the movement of capital from and to Algeria".