Oil revenues exceed $15bn in Algeria

GMT 06:07 2014 Thursday ,03 July

Arab Today, arab today Oil revenues exceed $15bn in Algeria

Oil company
Algiers - APS

Algeria reaped DZD1, 241.9 billion, the equivalent of $15.5 billion in oil revenues in late April, nearly a third of recoveries forecast for 2014, Ministry of Finance said.
While the amount is below DZD1,546 billion gained during the same period 2013, it is closer to the level of oil tax recoveries planned by the government for 2014 and set at DZD 1,577.7 billion.
Late April, the Revenues Regulation Fund (FRR) has not been supplied as the forecast amount of oil revenues has not been reached during this  period.
The FRR is supplied by the surplus of the oil revenue which represents the difference between the real recoveries and those paid to State budget.
For 2014, the government expects a surplus of the oil revenue of DZD 2,023.7 billion to be paid to the FRR.
The ordinary revenues, making up the total of state revenues minus hydrocarbons, increased late April to DZD703.5 billion against DZD 692.4 billion during the same period of last year.

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