Algeria: Oil Tax Revenues Slide in 1h of 2014

Algiers — The revenues from oil taxes stood at 1,870 billion DA, equaling $ 23.5 billion during the first half of 2014, sliding 10% in comparison with the same period of 2013 (DZD2,086 billion), according to a report of Finance Ministry.

Out of this amount collected during the 1st half of the year, DZD 1,577.7 billion was disbursed to the State budget in compliance with the Finance Act 2014.

Concerning the amount paid to the Revenue Regulation Fund (FRR), it was estimated at more than DZD 292 billion against DZD470.2 billion in the same period of 2013, the ministry said.

The amounts paid to the FRR throughout 2013 were more than DZD 2,062 billion, bringing its balance over DZD5, 563.23 billion ($ 70 billion) by the end of 2013.

The average price of Algerian crude oil was $ 109.28 between January and July 2014 against $ 107.68 during the same period of 2013, the same source said.

By adding the State’s ordinary resources, i.e. the resources out of the oil taxes amounted DZD1,273 billion by late June 2014, the overall budgetary revenues collected during the first half of the year were DZD2,985.3 billion (against DZD 3,172 billion by the end of June 2013).

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