Algeria: Lawmakers to Criminalize Hoarding Food, Medicine amid Inflation
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As inflation hits Algeria, Algerian lawmakers rush to make laws that protect civilians from economic exploitation.
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Algeria acts fast before inflation is exploited
Algerian Finance Minister Aymen Benabderrahmane revealed that the inflation rate in Algeria has reached 5.66% as of June 2021, at an increase of 3.4% compared to last year.
This has caused a surge in prices of goods throughout the country, leading Algerian lawmakers to act fast as the future of the country may be at stake. According to the laws undergoing discussions, Algerians can face up to life in jail for speculating goods, like food and medicine.
In other words, individuals who hoard basic necessities, taking advatnage of the increasing prices, people's needs, and the economic instabiliy, could be charged with crime.
According to Algerie Presse Service, Justice Minister Abderrachid Tabi proposed to Parliament Sunday criminalizing such acts and "thwarting this dangerous scourge" in order to maintain the purchasing power of Algerians.
According to Algerian media, Algerian police have raided illegal warehouses and stores where subsidized cooking oil and wheat flour were being hoarded.
Tabi said that the sentence of speculation in staples such as grains, milk, and sugar can be 20 years up to life in prison. Besides criminalizing speculation, the bill also addresses spreading misinformation about price hikes.
