Middle East Economic Survey
Algerias 2006 Budget Based On Average Oil Price Of $19/B
Algerias 2006 budget is expected to be based on an average oil price assumption of $19/B the same figure used since 2003 despite the current record level of oil prices. Algerian crude prices averaged $38.50/B in 2004, and the country earned $31.5bn from hydrocarbons sales in that year. Revenues earned above $19/B will be deposited in the Hydrocarbon Stabilization Fund...