Algeria to Reduce Income Tax Amid Soaring Food Prices

Consumers at Ali Mellah produce market in Algeria's capital Algiers. (AFP)
Consumers at Ali Mellah produce market in Algeria's capital Algiers. (AFP)
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Algeria to Reduce Income Tax Amid Soaring Food Prices

Consumers at Ali Mellah produce market in Algeria's capital Algiers. (AFP)
Consumers at Ali Mellah produce market in Algeria's capital Algiers. (AFP)

Algerian President Abdelmadjid Tebboune on Sunday ordered his government to reduce tax on overall income amid soaring food prices in the drought-hit North African country, the presidency said.

Avoiding social unrest has been a priority for authorities in Algeria where the middle class has been hit by soaring prices for some food products.

The government has blamed speculation for the upward trend of prices, including vegetables, fruits and meat, prompting it to tighten control at markets.

Tebboune "stressed the need to take all measures to preserve the purchasing power," the presidency said in a statement after a cabinet meeting.

"We need tight coordination between the ministries of agriculture and trade with the aim of maximum control over agricultural products and legumes."



Saudi Arabia, Palestine Agree to Establish Business Council 

Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Palestinian Ambassador to Saudi Arabia Mazen Mohammed Rateb Ghanem meet in Riyadh on Tuesday. (SPA)
Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Palestinian Ambassador to Saudi Arabia Mazen Mohammed Rateb Ghanem meet in Riyadh on Tuesday. (SPA)
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Saudi Arabia, Palestine Agree to Establish Business Council 

Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Palestinian Ambassador to Saudi Arabia Mazen Mohammed Rateb Ghanem meet in Riyadh on Tuesday. (SPA)
Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Palestinian Ambassador to Saudi Arabia Mazen Mohammed Rateb Ghanem meet in Riyadh on Tuesday. (SPA)

Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Palestinian Ambassador to Saudi Arabia Mazen Mohammed Rateb Ghanem agreed in Riyadh on Tuesday to the establishment of the first Saudi-Palestinian Business Council.

The initiative aims to increase trade and investment between the two countries.

The private sector in the Kingdom aligns with the directives of the wise leadership in supporting the Palestinian people, remarked Alhwaizy.

He emphasized the importance of empowering Palestinian business owners to invest in the Kingdom and promote Palestinian products and industries in Saudi markets.

He underscored the Federation's support for organizing exhibitions and conferences to promote Palestinian products with the participation of the Saudi Chambers of Commerce.