Financial and Banking News

Budgets & Revenues

Algeria's Draft Budget Projects 21% Rise In Spending

Algeria's draft budget,which was adopted by the Council of Ministers at the beginning of November,forecasts expenditure of AD734.9bn ($18bn) in 1995, a rise of 21% over thelatest estimate for 1994. Revenues are estimated at AD586.5bn ($14.4bn), anincrease of 24.5% on the present year. The resulting deficit corresponds almostexactly to the amount allocated to...