Algeria Plans First Wealth Tax to Cope With Financial Pressure

Algeria will implement a wealth tax for the first time next year as part of measures aimed at securing new sources of finance after a sharp fall in energy earnings, Prime Minister Ahmed Ouyahia said on Wednesday. State finances of the OPEC member North African nation have been significantly hit after a more than 50 percent drop in oil and gas revenue. Oil and gas account for 60 percent of the state budget and 95 percent of total exports. That has forced the government to consider...

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