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FINANCIAL NEWS
Algeria foreign reserves drop to USD 136.9bn
06 Jun 2016
(MENAFN) Algeria’s foreign exchange reserves dropped USD 6.1bn this year to reach USD 136.9bn.
However, the fall was attributed to the drop in international oil prices, as stated Prime Minister.
On the other hand, energy earnings make up 95 percent of OPEC member Algeria’s exports and 60 Pct of the budget.
In addition, energy incomes will not be sufficient to face the country’s economic development needs.
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