Transfers to EDL Declined to $472.07M by May 2015

According to the Ministry of Finance, transfers to EDL reached $472.07M up to May 2015, significantly lower than the $943.88M over the same period in 2014.

Out of the government’s primary expenditures of $3.85B up to May 2015, EDL transfers represented a share of 12.3% compared to a share of 24.8% by May 2014.

Excluding EDL’s debt service, the reimbursements for the purchase of gas and fuel from the two suppliers KPC and Sonatrach were slashed by half, down from $934.66M by May 2014 to $463.64M up to May 2015. This happened because of the 48.1% yearly plunge in the average price of crude oil from $108.31/barrel to $56.26/barrel, over the same period.  

Share of EDL Transfers of primary expenditures

 Transfers to EDL Declined to $472.07M by May 2015


Source: Ministry of Finance


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