Algeria’s exchange reserves reach USD98 billion by end of November

Published on : Thursday, 21 December 2017 19:09   Read : 1496 time(s)
Algeria’s exchange reserves reach USD98 billion by end of November

ALGIERS- Algeria’s exchange reserves reached USD98 billion in the end of November 2017, said Prime Minister Ahmed Ouyahia during the inauguration of the 26th edition of the Algerian Production Exhibition, taking place from 21 to 27 December at the Exhibition Palace (Pins Maritimes).

“When we had USD174 billion (of exchange reserves), Algeria imported 500,000 vehicles/year for USD6 billion, but today, we only have USD98 billion in November. We have not stopped importing this number of vehicles to import 600,000 kits,” he told a car dealer interested by the car assembly activity in Algeria.

As a reminder, the minister of Finance Abderrahmane Raouya recently said that Algeria’s exchange reserves reached USD100 billion in November.


See Also: Algeria’s exchange reserves reach US$100 billion in November


Last October, Raouya predicted that the exchange reserves could decline to USD97 billion by the end of December 2017.

 

According to his predictions, foreign exchange reserves should reach USD85.2 billion by the end of 2018 (the equivalent of 18.8 months of imports) to USD79.7 billion in 2019 (18.4 months of imports)  before reaching  USD76.2 billion in 2020 (17.8 months of imports).


See Also: Exchange reserves: Raouya banks on USD85bn by end 2018


 

Algeria’s exchange reserves reach USD98 billion by end of November