Algeria approves draft budget
Algerian legislators on Wednesday (November 2nd) adopted the 2012 draft budget, APS reported. Amendments to the 2012 Finance Act, adopted in a plenary session of the National People's Assembly (APN), included a ban on the importation of used clothing. Finance Minister Karim Djoudi explained that the move would allow domestic clothing businesses to grow and also help protect the health of Algerians. The state budget for 2012 is based in part on an exchange rate of 74 dinars to the dollar, a growth rate of 4.7% and an inflation rate of 4%.
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