Algeria’s budget law sees state oil and gas firm Sonatrach’s revenue rising by 848 billion Algerian dinar ($6.29 billion) in 2023, the state news agency (APS) reported on Wednesday.
The 2023 budget law raised the projected price of oil to $70 per barrel from $60, APS added.
Algeria also raised its forecast for economic growth to 5.3% from 4.1% driven by growth in the hydrocarbons sector, APS said.
Source: Reuters (Reporting by Nayera Abdallah, Tarek Amara, and Nadine Awadalla; editing by Jason Neely)