Middle East Economic Survey
BUDGETS AND REVENUES
France Converts 110Mn Of Algerian Debt Into Infrastructure Investments
The French Government has agreed to convert 110mn worth of Algerian debt into infrastructure investments, it was announced on 5 June when French Finance Minister Nicolas Sarkozy visited the country. Algerias debt has been falling since 1994 and last year external debt had dropped to 33% of GDP ($22bn), while domestic debt was AD911bn ($13.4bn), giving...