Algeria has approved its highest ever spending for 2024 and a large part of the allocations concentrate on projects, a newspaper reported on Wednesday.

Spending was projected at 15,275 billion Algerian dinars ($112.7 billion) and revenues at around DZD9,105 billion ($67.9 billion), creating a deficit of DZD6,170 billion ($44.8 billion), according to Elkhabar daily, which sited budget figures published in the official gazette.

“The budget will largely support the citizens’ purchasing power and investment projects in the country,” the report said.

It quoted the Finance Ministry as saying the budget is based on a conservative oil price of $60 a barrel.

In late 2003, the Ministry said the budget includes around DZD2894.5 billion ($21.3 billion) in capital expenditure.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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