Algeria Readies to Splash Cash as Oil Prices Rise
- Amended budget for 2018 would see spending spike 6 percent
- Economists warn against return to old spending patterns
Oil Price Increase a 'Nuisance' Not a Big Change, Says Strategist
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OPEC member Algeria is looking to boost spending outlined in its 2018 budget by 6 percent, capitalizing on high oil prices ahead of presidential elections next year.
A proposed amendment to the 2018 budget law would raise spending to almost 9.13 trillion dinars ($79 billion). The additional funds would be directed to the investment budget, which will rise 12 percent to 4.5 trillion dinars, according to a draft seen by Bloomberg.