NO. 39


Financial and Banking News

Budgets & Revenues

Algeria Removes Subsidies on Foodstuffs

The Algerian Government announced on 20 June that it was removing subsides onbasic foodstuffs, with the exception of bread, milk and semolina. Basiccommodities will, however, be subject to price controls. The move is expected toreduce the cost of food subsidies by half and save Algeria as much as $500mnin a full year of food imports. Food subsidies on some 20 basic goods cost the...