Algeria raises electricity price by 1,000 DZ

Fuel carrying trucks will be under surveillance of energy ministry departments. A magnetic card will track the carriers from port and stations, Echorouk has learnt.

Algeria will raise fuel and electricity price as part of the Financial Act 2016. An increase of 500 and 1,000 DZ will be decided for power consumption per three months for middle class people.

The government will continue subsidizing large consumed products although the country experiences a crisis due to oil price fall.

Article 13 of taxes law stipulates VAT exemption on bread, cereals and milk sales.

Algeria lost about $ billion from its oil revenues in the last nine months. Its trade balance had a deficit of $10.33 billion compared to a surplus of around $4.09 billion during the same period in 2014. Imports bill decreased by more than 40 percent. Last year, it reached about $50 billion compared to $29 billion this year.