Algeria – The revaluation of retirement pensions for the year 2019 is official. The Minister of Labor, Employment and Social Security, Mourad Zemali made the announcement yesterday at a meeting with members of the Finance and Budget Committee of the National People's Congress.
In a meeting with the Finance and Budget Committee at the NPC for the consideration of the 2019 Finance Bill, Mr. Zemali announced a 5% increase in retirement pensions by 2019.
This increase in retirement pensions, was decided in favor of 3, 2 million Algerian pensioners, he said and despite the financial situation of the National Pension Fund (CNR) which records an estimated deficit of 580 billion dinars
In total, this is, according to the minister, an amount of 1,282 billion dinars granted each year to beneficiaries (retired)
The Minister returned at length during this meeting, on the financial difficulties recorded by the CNR. The deficit is "accentuated in 2014", he said, recalling the support of the state that injected "500 billion dinars in 2018."