VOL. XLI

No. 19

11-May-1998

ALGERIA

Declining Oil Prices And Budget Revenues

More oil-producing countries have announced contingency plans to trim their publicspending in 1998 in the wake of persistently weak oil prices. The revisions have come inspite of the production cuts announced by OPEC and some non-OPEC countries in March andApril.

In Algeria, the cabinet issued a statement on 6 May that a downward revision inthe oil price assumption in the 1998 budget to $15/B from the original $18/B...