The central bank in Algeria revealed that the country's foreign exchange reserves fell by 8.72 billion dollars during the first half of 2018.
According to the bank, the country's foreign exchange reserves fell to $ 88.61 billion at the end of June 2018. Algeria's foreign exchange reserves stood at $ 97.33 billion at the end of December 2017.
Abderrahmane Raouya, Algerian Finance Minister announced the stability of foreign exchange reserves at $ 85.2 billion at the end of this year, covering about 18.8 months of imports. The reserves are expected to fall to $ 79.7 billion in 2019 (18.4 months of imports), before reaching $ 76.2 billion in 2020 (17.8 months of imports).
Algeria's reserves began to decline since the second half of 2014, affected by the decline of oil prices in the international market, ending by this an "8 consecutive years" of rise (as of 2006).
Source: (Al-Araby Al-Jadeed newspaper, Edited)
