Algeria Bans Cars Importing Starting From 2018

 

The Algerian government announced a list of goods and products that would prevent its import into the country from the beginning of 2018.

The Algerian Ministry of Commerce revealed a list of 900 goods and products that would prevent their import starting from 2018, topped by cars.

The ministry said in a statement that the decision is aimed at preserving the country's foreign exchange reserves and protecting local industries that are starting to recover, especially in the areas of construction, food products, installation of private cars and trucks.

"The country's foreign exchange reserves fell to $98 billion at the end of last November," Algerian Prime Minister Ahmed Ouyahia said at the opening of the annual Made in Algeria exhibition yesterday.

"When the reserve was $ 174 billion in foreign exchange, we imported 500 thousand cars a year at a total value of $ 6 billion, but today we cannot continue to do so because our foreign exchange reserves fell to $ 98 billion in November," he said.

For the next two years, the Algerian government is seeking to reduce the balance of payments deficit by reducing the level of imports to $ 35 billion instead of the current $ 45 billion.

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