The coronavirus has imposed the need for an amendment of the budget law that will gear focus to education, health, social protection and digital transformation. The restrictive measures to curb the virus outbreak impacted public finances as the government has to put off taxes hitting treasury revenues. Calls have mounted stressing the need for maintaining cash distribution for the needy as the parliament examines a law to better target recipients. The impact will be felt in unemployment as more companies struggle to keep staff amid a sluggish economic activity and drop in both domestic and foreign demand. The outlook for growth looks gloomy with the central bank projecting the economy will contract by 5.2% this year.

Source: The North Africa Journal July 02, 2020 10:52 UTC