Algerian parliament approves 2016 budget energy price increa...| MENAFN.COM

Tuesday, 09 August 2022 04:47 GMT

Algerian parliament approves 2016 budget energy price increases

(MENAFN- Emirates News Agency (WAM))

ALGIERS 31st December 2015 (WAM) -- Algeria's parliament on Monday approved increases in subsidised gasoline diesel gas and electricity prices as part of its 2016 budget in the latest attempt by the government to cope with a sharp fall in energy earnings.

According to Reuters the 2016 Budget Law also included a 9 percent cut in spending reversing an upward trend in government expenditure over the past years. Algeria has said it expects its energy earnings to fall by 50 percent this year.


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