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Algeria’s Resources to Drop to Nearly $35b in 2015

Source: Algeria Times 9/21/2015, Location: Africa

The fall in oil prices in the international market is expected to cause a drop of nearly $35 billion of Algeria’s resources in 2015, said Sunday in Algiers Prime Minister Abdelmalek Sellal.

“The dramatic drop in hydrocarbon prices which is likely to continue has an impact on our country’s resources,” said Sellal in a meeting with the university and academic community organized by the National Economic and Social Council (CNES).

The consequences of a “continuous decline” in prices, added the minister, will affect the resources of the Revenue Regulation Fund (FRR) and the growth in the domestic public debt.

For Sellal, this “difficult” situation advocates rationalization measures of the public spending and development of the capital market, “what the government is doing at present.

“The current situation is certainly difficult but it offers an excellent opportunity of introspection and bold decision-making for the construction of new economic vision and to modify our functioning and regulation methods,” while betting on growth, according to the Prime Minister Abdelmalek Sellal.

In this regard, the government validated a model of national economic growth and budget guidelines for the five-year programme 2015/2019, which takes into consideration the possible decline in the prices of hydrocarbons, said Sellal.



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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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