Transfers to EDL Rose by an annual 2.81% to $301.85M in Q1 2020

According to the Ministry of Finance, transfers to EDL stood at $301.85M in Q1 2020, increasing by 2.81% compared to the same period last year. This was mainly due to higher payments to KPC and Sonatrach for fuel oil purchases, lower debt services and no transfers to Electricity Syria.

In details “Payments to fuel and oil gas suppliers KPC and SPC”, constituting 99.65% of total transfers, rose yearly by 2.76% to $300.80M by March 2020, as the volumes of fuel oil imported surged annually by 14.56%.

EDL contributed 0.03% of the total Jan-March 2020 oil bill, lower than the 0.75% share paid in the same period last year, out of a lower bill of $295.19M. In nominal terms, EDL’s contribution amounted to $79,601 by march 2020, compared to $2.21M during the same period of 2019.

EDL transfers represented a share of 10.4% of the government’s primary expenditures (excluding interest payments), which reached $2.90B in Q1 2020, compared to a higher share of 11.5% last year.

Contribution of EDL from Total oil Bill by March

Transfers to EDL Rose by an annual 2.81% to $301.85M in Q1 2020

Source: MOF


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