Karim Djoudi: “Algeria is still intent on nationalizing Orascom Tel unit, Djezzy”

Algeria is sticking to its plan to nationalize Orascom Telecom's local mobile phone unit, Djezzy, finance minister Karim Djoudi announced on Tuesday, after he met senior executives from would-be Russian buyer Vimpelcom in Algiers.

• “I met a visiting Vimpelcom delegation. I cannot give you details about what we discussed,” the minister told reporters outside a parliamentary session.
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• Asked about Algeria’s plan to nationalize the Djezzy unit, he said: “The state has expressed its position and is still sticking to that position.”
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• Earlier, Finance Minister Karim Djoudi expounded the finance bill for 2012 at the People’s National Assembly (lower house of Parliament), in a plenary session chaired by Speaker Abdelaziz Ziari.
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• He told the deputies that the 2012 finance bill had been drafted on the basis of a benchmark oil price of 37 dollars while pointing to an overral national economic growth rate of 4.7% and 5.3 % outside hydrocarbons.
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• Karim Djoudi also brought into focus a notable upturn in the macro-economic and financial fields due to a steady evolution of hydrocarbons’ exports (+26%) followed by a rising trend in Algeria’s oil revenues estimated at 2.820 billion dinars in 2010. 
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