According to the Ministry of Finance, transfers to EDL reached $315.46M up to March 2015, significantly lower than the $615.13M recorded during Q1 2014.
Excluding EDL’s debt service, the reimbursements for the purchase of gas and fuel from the two suppliers KPC and Sonatrach was slashed by nearly a half from $517.19M by March last year to $308.48M up to March 2015. This happened because there was a 50.4% yearly plunge in the average price of crude oil from $108.02/barrel to $53.59/barrel, over the same period.
Out of the government’s primary expenditures of $2.22B up to March 2015, EDL transfers represented a share of 14.2% compared to a share of 25.8% up to March 2014.
Transfers to EDL in Q1
Source: Ministry of Finance