Transfers to EdL for the first eight months of 2014 showed a 6.46% year-on-year (y-o-y) drop to $1.41B. This was the result of the 5.15 % y-o-y decline in payments to fuel oil and gas oil suppliers KPC and Sonatrach to $1.39B. In fact, the imported quantity of gas oil covering consumption for the period between May 2013 and March 2014 and paid for between January and August 2014 shrank by 11%, while payments for fuel oil in the same period covering consumption between August 2013 and April 2014 rose by 11.5%. Moreover, the average price per barrel of crude oil ticked down by 0.7% to $109.16 for payments made in the first eight months of 2014. By August 2014, EdL contributed 3.60% of the total oil bill of $1.45B compared to a lower contribution of 2.5% in the total oil bill of $1.51B for the same period in 2013. During the same period, transfers to EdL represented 22.4% of the government’s primary expenditures, approximately the same share of 22.5% as that of 2013.
