Transfers to EdL Declined to $658.34M by April

Transfers to EdL for the first four months of 2014 revealed a 10% year-on-year (y-o-y) decline to $653.84M.  This drop was due to the 8% y-o-y decrease in payments to fuel oil and gas oil suppliers KPC and Sonatrach to $645.59M. In detail, the imported quantity of gas oil covering consumption for the period between May and November 2013 and paid for between January and April 2014 declined by 12%, while payments for fuel oil covering the same respective periods increased by 14%. In addition, the average price per barrel of crude oil displayed a 0.11% increase in price to $109.68 for payments made in the period between January and April 2014. By April 2014, EdL contributed 2.50% of the total oil bill of $662.69M compared to a slightly higher contribution of 2.60% in the total oil bill of $717.74M for the same period in 2013. In the same period, transfers to EdL represented 21.2% of the government’s primary expenditures, in comparison to a slightly higher 21.3% for the same period in 2013.

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