2027 Finance Bill: Government pushes for economic diversification to curb oil reliance

Deliberations on the 2027 Finance Bill continued at the People's National Assembly on Thursday, November 5. Lawmakers addressed critical issues including budget deficits, public debt sustainability, and resource diversification. Finance Minister Lamine Lebbou defended the government's strategy to gradually reduce dependency on oil revenues, highlighting that non-hydrocarbon income now accounts for over 71% of projected revenue. The government forecasts 4.2% economic growth in 2027, driven by the agricultural and industrial sectors. Additionally, the minister emphasized the modernization of the financial sector, notably through the establishment of the National Payments Commission, which aims to promote electronic transactions and financial inclusion without increasing the tax burden on citizens.