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FinancialNews


  • 01-07-17

    Algeria foreign exchange reserves fall USD6.1bln

    (MENAFN) Algeria's Central Bank Governor Mohamed Loukalas said that foreign exchange reserves fell by $6.1 billion so far this year to $108 billion mainly due to high imports bill.

    However, Algeria had set import restrictions to reduce spending and protect its reserves after oil prices started falling in mid-2014 and hit state finances in the North African OPEC state.

    Overall, the latest official figures show imports reached $15.42 billion in the first four months of this year, declining only by 0.14 percent from the same period in 2016.

    Algeria's foreign exchange reserves fell by $6.1 billion so far this year to $108 billion mainly due to high imports bill, state news agency

    MENAFN0107201700450000ID1095589305

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