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Algerian budget ratified
Algeria, Economics, 12/22/1999
An Algerian official source said that the Algerian Nation's Council (parliament) on Sunday ratified the state's draft budget for the year 2000, which is expecting a deficit of US $3.4 billion.
The budget law expects revenues at US $15.8 billion and expenditures at US $19.2 billion. The draft budget was prepared on the basis of an average price per barrel of oil at US $15. Fuel revenues in Algeria provide 95% of its foreign resources in hard currency.
The said budget law also expects an economic growth at 5% and inflation rate between 4 and 5%.
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