BUDGETS AND REVENUES
Algeria 2004 Budget Based On Oil Price Of $19/B; Indonesia $21/B; Venezuela $18-20/B
The Algerian Government on 14 September endorsed a draft budget for 2004 based on an average oil price of $19/B. Fiscal revenues are therefore projected at around AD1,528bn ($19.1bn). However, actual oil revenues may come in higher than the Algerian estimate. So far in 2003 Algerias benchmark crude (Saharan blend) has averaged $28.9/B, compared with...