VOL. XLVII

No 08

23-February-2004

ALGERIA

BUDGETS AND REVENUES

Algerian 2004 Budget Projects Increased Deficit Of $5.6Bn Based On Conservative Oil Price

The Algerian budget for 2004 projects a 50% rise in the government deficit from AD260bn ($3.8bn) in 2003 to AD392bn ($5.8bn), according to the Algerian Official Gazette of 29 December 2003. The rise in the estimated deficit comes about as a result of increases in total spending (estimated at AD1,920bn $28.2bn) outstripping rises in total revenue...