(MENAFN) Algeria's Finance Ministry said that the sharp fall in oil prices will not affect the construction of houses and other large projects in the country as they could be funded through the financial market, Emirates 24/7 reported."
The Ministry said that it will fund a number of its planned projects through the money market in order to ease pressure on the state budget, which will result in the projects planned by the government, particularly the ones in the housing, farming, education and health sector, not being affected by the current fall in oil prices.
The ministry said that Algeria, which is among the world's top 10 gas powers, has large resources as well as different mechanisms to deal with such issues as the oil prices and that the country remains determined in its efforts to diversify its resources.
"Algeria is determined to diversify the sources of project finance by relying on the money market instead of the state budget alone," Algeria's Finance Minister was quoted as saying.
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