Algeria’s Minister of Finance, Abderrahmane Raouia, revealed that his Country's Foreign Exchange Reserves would drop to $33.8 billion by 2021, down from $88.1 billion in the first half of 2018.
He clarified, "the Country’s Financial situation and the decline in revenues due to the Oil Crisis, will lead to a decline in Foreign Exchange Reserves to 62 billion of dollars in 2019," adding, "Foreign Reserves will continue to shrink to 47.8 billion of dollars in 2020, and fall further to the level of 33.8 billion dollars in 2021."
Algeria's Foreign Exchange Reserves stood at 97.33 billion of dollars at the end of December 2017, according to the Central Bank of Algeria. The Country’s reserves have begun to decline since the second half of 2014, affected by lower oil prices in the international market, ending eight consecutive years of growth, with reserves exceeding $194 billion that year.
Source: (Al-Arabi Al-Jadeed newspaper, edited)
