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Algeria govt to maintain food subsidy

Xinhua | Updated: 2011-09-26 09:24

ALGIERS - Algeria has no intention to withdraw subsidy on consumer products, Minister of Agriculture and Rural Development Rachid Benaissa said on Saturday.

The state-run radio quoted Benaissa as saying that the proposal of cancelling of staple food subsidy, including those of bread and milk, is not on the agenda.

The government decided in January to suspend the 5 percent taxes imposed on imported red sugar and cooking oil for 8 months, in order to bring prices down in the local market, amid four-day popular protests across 20 provinces in the North African nation over soaring prices.

The government also suspended for the same period the 17 percent customs duties and value added tax on imports of white sugar, in addition to the suspension of 19 percent tax on revenues of enterprises specialized in importing brut sugar and cooking oil, and 25 percent tax on revenues of distributors of these staples.

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