Algeria – The Organic Law on Finance Laws officially entered into force today, Monday, September 10, with its publication in the Official Gazette No. 53.
"The purpose of this organic law is to define the state financial management framework to govern the preparation of the finance laws, their content, their format and their adoption by the Parliament," states the Article 1 of this law.
According to the same article, this law "also lays down the principles and rules of the public finances, the accounts of the State and the execution and control of the implementation of the finance laws".
The supplementary finance bill replaced by a "rectificative"
The Act that has just come into force defines three types that have the character of a finance law. This is "The Finance Bill of the Year, the Amending Finance Acts and the Budgetary Settlement Act".
It can be seen that the authorities replace the supplementary finance law with a "corrigendum". "The purpose of the rectifying finance law is to amend or supplement, during the year, the provisions of the finance law of the year", stipulates Article 7 of this law.
More flexibility in spending
The Organic Law on Finance Acts authorizes "transfers and transfers of credits" during the financial year, thereby merging the initial distribution of program credits.
"Transfers of credits from one program to another within the same department or public institution are made by order in council issued on the joint report of the Minister of Finance and the Minister or the head of the public institution concerned, "states Article 33.
In addition, transfers of credits between programs of separate ministries or public institutions are also authorized, but by presidential decree.