Algeria posts 26pct increase in energy earnings| MENAFN.COM

Thursday, 18 August 2022 04:02 GMT

Algeria posts 26pct increase in energy earnings


(MENAFN) Algeria's earnings from energy exports reached USD19.61bn in the Jan-July period of the year, up 26.25 percent on the same period of 2016.

Furthermore, energy sales are crucial to the country's finances, reaching for almost 97 percent of the OPEC member's exports.

In addition, oil and gas sales tumbled from USD60bn in 2014 to USD35.7bn in 2015 and USD27.5bn in 2016.

The country's foreign currency reserves, which have been dropping since the fall in oil prices three years ago, are projected at almost USD100bn.

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