Algeria Adopts a 2009 Budget with a Deficit of more than €2.4 Billion
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The Algerian budget for the year 2009 has been drafted on the basis of a barrel of oil averaging $37.
Although that figure would have been considered prudent only a few months ago, 2009 could end up challenging the wisdom of fiscal planners in Algeria, considering how low crude oil prices fell. It is still possible that prices will drop further, even below the Algerian budget reference, forcing further volume cuts to clear inventory. Read here or subscribe here.
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