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FINANCIAL NEWS
Algeria predicts energy revenues to decrease
23 Nov 2015
(MENAFN) Algeria’s energy incomes are predicted to decrease to USD 26.4bn in the following year, whereas foreign exchange assets will fall to USD 121bn.
According to the N. African nation, that stated energy earnings will decrease by 50 percent this current year to almost USD 34bn.
Moreover; Algeria is implementing higher taxes, import duties to support covering its shortfall, after the fall in crude oil prices.
Additionally, the nation is also attempting to draw as much as foreign finance to support rising oil and gas production, which was mainly stagnant three years earlier.
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