Algeria to Reduce Imports by nearly $8 Billion in 2017
Algeria to Reduce Imports by nearly $8 Billion in 2017
Algiers - QNA
The Algerian government has approved a plan to reduce its imports by nearly $8 billion in 2017.
Algerian Minister of Industry and Mines Abdul Salam Bushoarb said in statements Monday that the plan aims at reducing the import bill during the current year by about $8 billion.
He explained that the government's plan is to reduce the import bill to about $35 billion in 2017, after it exceeded more than $46 billion in 2016.
The Algerian government has adopted austerity measures since 2016 to reduce the consequences of the decline in oil prices in global markets.
Algeria relies on oil and gas for 97% of its budget and infrastructure investments.
Source: QNA
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