Algeria is raising more taxes and cutting spending in its 2017 austerity budget which was approved on 22 November by parliament, in a bid to offset the fall in oil revenue from lower oil prices. The budget still needs the green light from the Algerian Senate. 

Only some details about the increased revenue from higher tax rates or new taxes have emerged during the parliamentary debate of the budget, pending the official publication of the budget law. The budget will specifically raise...