Algeria may borrow money, says minister

Although the Prime Minister Abdelmalek Sellal denied the possibility to get into debt, finance minister Abderrahmane Benkhalfa Wednesday said the government plans to borrow money.

« Even if there is no official decision so far, the issue is being discussed and will be decided, » the finance minister told Echorouk.

« It possible to borrow money from a foreign country or an international financial institution,” he added.

Speaking about oil revenues, Benkhalfa said the government recovered billions dinars from black market in the last few months. “Figures we will reveal will surprise you all. We are able to solve the revenues crisis through informal market money.” 

Asked about a possible complementary financial act as part of austerity, the minister said it is too early to talk about the issue and no decision has been made so far.

Earlier, a number of public enterprises including Sonatrach announced their intention to borrow money from foreign financial institutions.