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Algeria to reduce income tax amid soaring food prices By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – People shop for vegetables and fruits at a Algiers market on October 15, 2017, in Algeria. REUTERS/Ramzi Boudina

ALGIERS (Reuters – Algerian President Abdelmadjid Tebboune ordered Sunday that his government reduce taxes on total income in light of the soaring prices for food in drought-stricken North Africa.

Authorities in Algeria have made it a top priority to avoid social unrest. The middle class is being hit hard by high prices for certain food products.

The government blames speculation for the rising trend in prices (including vegetables and fruits), prompting them to tighten market controls.

The presidency released a statement following a cabinet meeting stating that Tebboune stressed the importance of taking all necessary measures to protect the purchasing power.

To ensure maximum control over legumes and agricultural products, we need tight coordination among the ministry of trade and agriculture.

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