Algeria plans to increase budget spending by 25 pct in 2018

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A woman shops in a street market in Algiers, Tuesday, Jan. 11, 2011. Calm appeared to prevail following violent protests on Sunday, after deaths were reported during demonstrations over increased prices of staple food stuff. The government announced that it will cut the cost of sugar and cooking oil. (AP Photo)

ALGIERS  – Algeria plans to increase state spending by 25 percent in 2018 despite growing financial pressure caused by a fall in energy earnings, the presidency said on Thursday after a cabinet meeting.

The government expects a budget deficit of 9 percent of gross domestic product in 2018, up from the 8 percent forecast for this year, but down from 14 percent in 2016, the presidency said in a statement.

Reporting by Hamid Ould Ahmed; Editing by Ulf Laessing and Gareth Jones(Reuters)

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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