Transfers to EDL Fell yearly by 14.28% to $1.50B in 2019

According to the Ministry of Finance, transfers to EDL witnessed a yearly drop of 14.28% to reach $ 1.50B by the end of 2019.

In details “Payments to fuel and oil gas suppliers KPC and SPC” (which grasped 99.81% of the total amount) decreased yearly by 13.51% to $1.50B by December 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 20.40% by December 2019 compared to the same period last year. However, the volume of imported Gas oil increased yearly by 5.19% in Q4 2019.

Furthermore, EDL contributed 0.27% to the total oil bill.  This figure was lower than to that related to the same period of 2018, out of a higher bill of $1.74B. In nominal terms, EDL’s contribution was lower in Jan-December 2019, amounting to $4M, compared to $4.96M during the same period in 2018

EDL transfers represented a share of 13.3% of the government’s primary expenditures, which reached $11.35B by 2019. This share was higher at 14.4% in 2018.

Contribution of EDL from Total oil Bill by December

Transfers to EDL Fell yearly by 14.28% to $1.50B in 2019

Source : MOF

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