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Algeria raises 2020 budget deficit forecast to 10.4% of GDP

Christian Fernsby ▼ | May 27, 2020
Algeria expects its budget deficit for 2020 to reach 10.4% of gross domestic product, up from a previous forecast of 7.2%, due to lower revenues from oil and gas, Finance Minister Abderrahmane Raouya said on Tuesday.
Algeria street
GDP   Algeria street
The government has projected oil and gas export revenue for 2020 at $17.7 billion, against a $35.2 billion forecast announced before the outbreak of the novel coronavirus that caused a sharp slide in global crude prices, Raouaya told parliament.

Topics: Algeria GDP

“These are exceptional circumstances,” Raouya said.