Algeria’s budget deficit jumps to $17 billion

Algeria’s budget deficit increased by about 12 percent jumping to $17.2 billion this year compared to $15 billion last year. This happens although the government took measures to slow down importing and optimize expenses.

According to customs, the deficit comes to explain exchange reserves decrease to $121 billion late in September. 

Figures show that the government’s measures were useless although imports bill decreased according to official figures.

Customs also said Algeria’s exports income went down to $25 billion this year compared to $32 billion last year. Exports revenue capacity covers only 60 percent of imports compared to 68 percent last year. 

Hydrocarbons income represents around 94 percent of exports revenue. It reached $24 billion. It exceeded last year $30 billion. 

Hydrocarbons represent only 6 percent of Algeria’s exports. 

Algerian exports out of hydrocarbons include food products estimated at $281 million and $75 million of raw materials.