Algeria adopts 2009 finance bill with oil put at 37 dollars a barrel

0 Comments | AFP, August, 2008

ALGIERS (AFP) — The Algerian cabinet chaired by President Abdelaziz Bouteflika adopted the 2009 finance bill predicated on an oil price of 37 dollars a barrel and a growth rate of 4.1 percent, it was announced here.

Other markers were inflation at 3.5 percent and imports totalling 34 billion dollars, a communique said.

Income was estimated at 2,786 billion dinars (27.86 billion euros) and expenditure at 5,191 billion dinars (51.91 billion euros), the latter up by seven percent over 2008.

The large deficit could be covered by a regulatory fund that currently totals over 4,000 billion dinars, the communique said.

The oil price was set extremely low as a barrel was over 117 dollars in New York on Friday.

© 2008 AFP