Algeria plans to raise its government expenditure in 2015 by 15.9% to AD8,877bn ($111bn), according to the draft budget which was approved by the cabinet at the end of August. With a steady exchange rate of $1=AD80 and inflation of around 3% this represents an increase of over 12% even in real terms.
The draft budget projects an overall GDP growth rate of 3% (4.2% for non-oil GDP) in 2015, despite continued lackluster growth in the EU, a cabinet statement says. (CONTINUED - 750 WORDS)
