VOL. XLI

No. 49

7-December-1998

ALGERIA

Algerian Parliament Approves 1999 Budget Amidst Social Strife

The Algerian parliament on 24 November approved the 1999 state budget,which projects a deficit of AD161.47bn ($2.8bn), a 14.7% increase from 1998. The budget isbased on an average oil price assumption of $15/B for 1999, the same as for the 1998budget, even though Algerian oil prices are currently at their lowest in over 10 years atunder $11/B. Algerias finance minister, Dr. 'Abd al-Karim...