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FINANCIAL NEWS
Algeria- Cabinet ratifies 2013 budget, hydrocarbons bills
18 Sep 2012
(MENAFN) The Algerian Council of Ministers announced that it has endorsed the budget and the hydrocarbons bills for next year, reported Xinhua News citing the official news agency APS.
The council said that the bills will still need the parliament’s approval.
It added that the budget bill includes USD84 billion in public expenditure, of which USD54 billion will be operating budget and USD19.8 billion will be an equipment budget.
The budget bill also envisages revenues of USD47.7 billion.
It is worth noting that the council approved a bill of amendments to the hydrocarbons law 05-07 of 2005, designed to attract foreign investors.
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