Algeria's Exchange Reserves To Reach $ 85 Billion By The End Of 2018

Algeria’s exchange reserves will reach $ 85.2 billion by the end of 2018, which is equivalent to 18.8 months of imports, Finance Minister, Abderrahmane Raouia said on Sunday.

During the presentation and submission of the draft fiscal law for 2018 in a public meeting before the deputies of the National People’s Assembly, Raouia said that the reserves may reach $79.7 billion in 2019, the rate of 18.4 months of import before reaching $ 76.2 billion in 2020 (17.8 months of import).

“Algerian exchange reserves reached $102.4 billion at the end of September 2017”.

The minister said last October that the reserve may fall to $ 97 billion at the end of December 2017.

Previously, the exchange reserve stood at $ 114.1 billion at the end of 2016, compared with $ 144.1 billion at the end of 2015.

He presented the draft of the Finance Law for 2018 in a plenary session before the National People’s Assembly under the chairmanship of Said Bouhadja, the head of this parliamentary body.

This bill provides for a range of legislative and financial measures that aimed at consolidating productive investment and improving budget revenues while maintaining the national solidarity mechanism.

At the budget level, the Finance Bill of 2018 provides for a total expenditure of 8.628 billion Algerian dinars, which is consisting of 4.043.31 billion dinars of processing expenses and 4.584.46 billion dinars of administrative expenses.

As for the budget revenues, they reached DZD 6.496.58 billion (compared to DZD 5,635.5 billion in 2017), consisting of DZD 3.688.68 billion of regular resources (compared to DZD 3.435.4 billion in 2017) and DZD 2.807.91 billion of petroleum taxes (compared to DZD 2.200.1 billion in 2017).