Middle East Economic Survey

VOL. LI

No 2

14-January-2008

ALGERIA

Algerias 2008 Budget Projects $33Bn Deficit Based On $19/B Oil Price

Algerias budget for 2008 projects a large deficit of AD2,399bn ($33.3bn), up 31.7% on the 2007 deficit, based on projected petroleum revenues of AD970bn ($13.5bn) and an extremely conservative oil price of $19/B, despite international oil prices approximating $100/B. Unrealistically, petroleum revenues are projected to fall slightly in the 2008 budget from the...