VOL. XXXVII

NO. 31

2-MAY-1994

Financial and Banking News

Budgets & Revenues

Algeria Revises Downwards Estimate For Hydrocarbon Revenues

Algeria's revenues from oil and gas revenues during 1994 are now estimated at$7.1bn rather than the $8bn projected earlier this year, according to theManaging Director of the state oil firm Sonatrach, Mr. Abelhak Bouhafs. This estimate is based on oil prices of about $14/B. The Prime Minister, Mr. MokdadSifi, has said that debt service obligations during the...