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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
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
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