Transfers to EdL Increased to $1.04B by June 2014

Transfers to EdL for the first half of 2014 revealed a 10.23% year-on-year (y-o-y) increase to $1.04B.  This climb was due to the 12.41% y-o-y increase in payments to fuel oil and gas oil suppliers KPC and Sonatrach to $1.03B.

In detail, the imported quantity of gas oil covering consumption for the period between May 2013 and January 2014 and paid for between January and June 2014 inched up by 7%, while payments for fuel oil in the same period covering consumption between August 2013 and January 2014 rose by 47% as the output of electricity for the mentioned period jumped by 23.49% y-o-y. In addition, the average price per barrel of crude oil displayed a 0.28% downtick in price to $109.44 for payments made in the period between January and June 2014.

By June 2014, EdL contributed 3.90% of the total oil bill of $1.07B compared to a lower contribution of 2.3 in the total oil bill of $935.97M for the same period in 2013.

In the same period, transfers to EdL represented 22.3% of the government’s primary expenditures, in comparison to a lower share of 19.5% for the same period in 2013.

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