Algerian Prime Minister Abdelmalek Sella has said that the country’s reserves of foreign currency have fallen this year to $136.9 billion from $143 billion at the end of 2015.
“97 per cent of Algeria’s foreign currency comes from oil revenues which constitute 60 per cent of the general budget,” Sellal said on Sunday during the opening of a meeting with businessmen and trade union organizations in the country.
According to previous statements by government officials, Algeria has lost about 90 per cent of its income sources of foreign currency since mid-2014 after the collapse of oil prices in the global markets.
The Prime Minister noted that his country was however able to cope with the oil crisis.
Algeria is a member of the Organization of Petroleum Exporting Countries (OPEC), with a production rate of 1.2 million barrels per day.
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