EdL Transfers Decreased by 19% y-o-y to $707.80M by May

Transfers to EdL for the first five months of 2014 revealed a 19% year-on-year (y-o-y) decline to $707.80M.  This drop was primarily due to the 17% y-o-y decrease in payments to fuel oil and gas oil suppliers KPC and Sonatrach to $698.59M. In detail, the imported quantity of gas oil covering consumption for the period between May and November 2013 and paid for between January and May 2014 declined by 18%, while payments for fuel oil covering the same respective periods slightly inched up by 0.12%. The weighted average price per barrel of crude oil displayed a 0.12% decrease in price to $109.64 for payments made in the period between January and May 2014. By May 2014, EdL contributed 2.80% of the total oil bill of $719.07M compared to a lower contribution of 2.30% in the total oil bill of $863.02M for the same period in 2013. During the first five months of 2014, transfers to EdL represented 18.6% of the government’s primary expenditures, posting a decrease from the 21.0% share for the same period in 2013.

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