Transfers to EDL Fell by $250.71M by November 2019

According to the Ministry of Finance, transfers to EDL witnessed a yearly drop of 15.4% to reach $ 1.37B by November 2019.

In details “Payments to fuel and oil gas suppliers KPC and SPC” (which grasped 99.82% of the total amount) decreased yearly by 14.6% to $1.37B by November 2019. This was mainly a result of lower payments to KPC and Sonatrach for fuel oil purchases, lower debt service and no transfers to Electricity Syria. Moreover, the Volume of imported fuel oil fell by 19.49% by November 2019 compared to the same period last year. However, the volume of imported Gas oil increased yearly by 1.72% by November 2019.

Furthermore, EDL contributed 0.29% to the total oil bill. In nominal terms, EDL’s contribution amounted to $4.05M in Jan-November 2019, whereas it reached $4.77M during the same period in 2018.

EDL transfers represented a share of 13.8% of the government’s primary expenditures, compared to a higher share at 14.5 percent in Jan‐November 2018.

Contribution of EDL from Total oil Bill by November

Transfers to EDL Fell by $250.71M by November 2019

Source : MOF

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