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Prime Minister: Algeria's foreign reserves fall 7.3 billion dollars in 5 months
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Prime Minister: Algeria's foreign reserves fall 7.3 billion dollars in 5 months
Prime Minister: Algeria's foreign reserves fall 7.3 billion dollars in 5 months
Algerian Prime Minister Ahmed Ouyahia
06/24/2018
Economy News Baghdad
Algerian Prime Minister Ahmed Ouyahia said his country's foreign exchange reserves fell by $ 7.3 billion in the first five months of this year and are expected to fall by $ 5 billion from now until the end of the year.
Ouyahia said after meeting with members of the National Democratic Rally Party on television that reserves amounted to 90 billion dollars by the end of May and is expected to fall to 85 billion by the end of 2018.
Reserves amounted to $ 97.3 billion in December 2017, down from $ 114.1 billion the previous year, $ 144.1 billion in 2015 and $ 178 billion in 2014 when crude oil prices began to fall.
Crude prices have recovered this year.
Algeria's oil and gas revenues, which account for 95 percent of total exports and 60 percent of the state budget, fell to $ 33.6 billion in 2017 from $ 63 billion in 2014.
Ouyahia said Algeria should make more efforts to adapt to the financial problems caused by lower energy revenues.
http://economy-news.net/content.php?id=12713
Algerian Prime Minister Ahmed Ouyahia
06/24/2018
Economy News Baghdad
Algerian Prime Minister Ahmed Ouyahia said his country's foreign exchange reserves fell by $ 7.3 billion in the first five months of this year and are expected to fall by $ 5 billion from now until the end of the year.
Ouyahia said after meeting with members of the National Democratic Rally Party on television that reserves amounted to 90 billion dollars by the end of May and is expected to fall to 85 billion by the end of 2018.
Reserves amounted to $ 97.3 billion in December 2017, down from $ 114.1 billion the previous year, $ 144.1 billion in 2015 and $ 178 billion in 2014 when crude oil prices began to fall.
Crude prices have recovered this year.
Algeria's oil and gas revenues, which account for 95 percent of total exports and 60 percent of the state budget, fell to $ 33.6 billion in 2017 from $ 63 billion in 2014.
Ouyahia said Algeria should make more efforts to adapt to the financial problems caused by lower energy revenues.
http://economy-news.net/content.php?id=12713
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