NO. 23


Financial and Banking News

Budgets & Revenues

Algeria Revises Oil Revenue Projections

Algeria now expects to earn $8bn from oil revenues during 1994, rather thanthe $9bn originally envisaged. Algeria's debt service obligations during theyear are expected to be at least this amount. The new estimate is based on anaverage price of $15/B for Algerian crude. Saharan Blend averaged $17.50/B in1993 and $14.72/B in the first eight weeks of 1994. Mr. Abdel-Haq Bouhafs,...