Algeria's foreign exchange reserves will come to at least $100 billion by the end of 2017 thanks to measures aimed at further reducing the country's import bill, Prime Minister Abdelmalek Sellal said on Monday.
The fall in global oil prices has hammered the state finances in OPEC member Algeria, where oil and gas account for 94 percent of total exports and 60 percent of the state budget. Energy earnings have been halved by lower prices.
Reserves are currently "over $112 billion", Sellal was quoted by state news agency APS as saying at an economics event.
They reached $114 billion at the end of 2016, down from $144.1 billion in December 2015 and $178 billion the previous year.
http://timesofindia.indiatimes.com/business/international-business/algeria-foreign-reserves-to-stay-over-100-bln-this-year-pm/articleshow/57500077.cms
The fall in global oil prices has hammered the state finances in OPEC member Algeria, where oil and gas account for 94 percent of total exports and 60 percent of the state budget. Energy earnings have been halved by lower prices.
Reserves are currently "over $112 billion", Sellal was quoted by state news agency APS as saying at an economics event.
They reached $114 billion at the end of 2016, down from $144.1 billion in December 2015 and $178 billion the previous year.
http://timesofindia.indiatimes.com/business/international-business/algeria-foreign-reserves-to-stay-over-100-bln-this-year-pm/articleshow/57500077.cms
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