Creation of sovereign funds is inappropriate, Prime Minister says

Algerian Prime Minister endorsed his finance minister, Karim Djoudi concerning the proposal put forward earlier by the Algeria mines and energy minister, chakib khellil to create sovereign funds to reverse oil incomes surplus to be dedicated for foreign investments.

• M. Ouyahia declared “ The finance minister was clear on the issue, saying that it is inappropriate to create such funds for the time being”. M karim Djoudi has stated in an interview published last week that the international financial turbulences suggest that time has not come yet to create such funds for foreign investments in order to pump up the incomes surplus amounted to $ 120 billions.