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FINANCIAL NEWS
Algeria foreign exchange reserves fall USD6.1bln
01 Jul 2017
(MENAFN) Algeria’s Central Bank Governor Mohamed Loukalas said that foreign exchange reserves fell by $6.1 billion so far this year to $108 billion mainly due to high imports bill.
However, Algeria had set import restrictions to reduce spending and protect its reserves after oil prices started falling in mid-2014 and hit state finances in the North African OPEC state.
Overall, the latest official figures show imports reached $15.42 billion in the first four months of this year, declining only by 0.14 percent from the same period in 2016.
Algeria’s foreign exchange reserves fell by $6.1 billion so far this year to $108 billion mainly due to high imports bill, state news agency
MENAFN0107201700450000ID1095589305
MENAFN0107201700450000ID1095589305
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