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.


WAM/Ahlam/Moran


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