MONTHLY FLASH SEPTEMBER 2020
Last update : 23 Juin 2021 10:46
- Non-hydrocarbon export
The Entreprise Nationale des Industries Electro-Ménagères (ENIEM) plans to export its products to Sahel. The information was given by the Director of Marketing and Communications on the 7th of this month. The targeted markets are Niger, Mali and Mauritania.
- Public industry: the fall
On the 29th of this month, the Office National des Statistiques (ONS) released the Public Industry figures for the second quarter of 2020. Through the published figures, the impact of COVID19 was clearly felt. In fact, production dropped for all branches by 14%. The most significant drop was felt in the ISMME and Leather and Footwear industries (-55%) and that of Wood and Cork (-34%).
The hydrocarbon sector declined by 8.5%, nearly three times more than in the 1st quarter (-3%). COVID19 also had its impact on the price level by reducing supply and increasing demand on another side. This resulted in an increase in industrial producer prices by almost 1.6%.
- Industry : Algerian-British partnership
In a video conference, held at the end of this month, the Industry Minister urged British businessmen to invest in the development of manufacturing engineering for industrial equipment. This video conference was organized by the Algerian-British Business Council (ABBC). It follows the work of the Africa-Great Britain Summit held on January 20. Algeria was represented by the Minister of Industry.
- Pharmaceutical industry
The Minister of Pharmaceutical Industry inaugurated, on the 28th of this month, a biosimilars production plant in Algeria within the “Frater Razes-Algeria” complex. Biosimilars are drugs produced from living cells, one of them, Varenox, which is currently part of the protocol to fight COVID19. Currently, this drug was equivalent to a net import value of 60 million euros. The capacity of this plant is 15-18 million syringes per year. The intention is to export, thereafter, to Arab countries, Africa and Europe.
- ZLECAF : Approval process
As part of the process for the effective implementation of the ZLECAF , a voting session for this text was organized on the 24th of this month within the NPA. The text was adopted unanimously A presentation by this text was made by the Minister of Commerce, on the 29th of this month, before the Committee on Foreign Affairs, International Cooperation and the national community abroad at the Council of Nation. The presentation of this Agreement to the Senators will take place on October 1.
- Association Agreement - European Union
In an interview with journalists, on the 20th of this month, the President of the Republic announced that Algeria still adheres to the Association Agreement but will ask for a revision of the timetable for the dismantling of tariffs to safeguard its interests. As a reminder, the free trade area with the European Union was to enter into force on the 1st of this month.
- Islamic finance
Following the CNEP last August, the BNA launched finance products, later this month, with the intention of capturing a segment of customers reluctant to use conventional finance products.
- Gold production
The Minister of Mines declared on the 21st of this month that gold production for the year 2020 should not exceed 58 kg. The Minister considers that this production is low in comparison with the national stock (121 tonnes). It should be recalled that the annual production average does not exceed 60 kilos. The Minister is discounting this production at 240 kilos per year by setting up 95 micro companies which will benefit 1,500 young people in the regions of Illizi and Tamanrasset.
- Law on Currency and Credit: Currency risk
During an interview with journalists, held on the 20th of this month, the President of the Republic announced"the forthcoming revision of the Law on Money and Credit 90-10 and the initiation of a reflection on the creation mechanisms to cover the exchange risks incurred by economic operators due to the depreciation of the national currency ”. It is also planned the creation of a "compensation fund" to help economic operators affected by the exchange risk.
- Bank liquidity and financing of the economy
At its meeting, held on the 14th of this month, the Comité des opérations de politique monétaire (COPM) decided to reduce the reserve requirement rate, from 6% to 3%, and the activation of the main refinancing operations to one (1) month. These two measures are expected to "free up additional amounts of resources for the banking system, and thus make additional resources available to banks and financial institutions for financing the national economy and support the economic activity ".
- Mines - Phosphate
During an inter-ministerial meeting, held on the 14th of this month, the Minister of Energy unveiled a development scheme for the phosphate mining mega project in the east of the country. This scheme, which will require an amount of 6 billion dollars, will be deployed over three phases
 Zone Libre Echange Continentale Africaine.
 Assemblée populaire nationale.
 Caisse Nationale d’Epargne et de Prévoyance.
 Banque Nationale d’Algérie.
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