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Algeria collects 20 billion USD from oil taxes


15:29, July 13, 2013

ALGIERS, July 12 (Xinhua) -- The Algerian Finance Ministry on Friday said the government has collected some 20.3 billion U.S. dollars from oil taxes during the first four months of 2013.

Citing a report of the Finance Ministry, the official APS news agency indicated that the North African nation collected some 17 billion dollars during the first four months of 2012.

The average price of the Algerian crude oil reached 109.05 dollars a barrel between January and May 2013, compared to 117.25 dollars a barrel during the same period in 2012.

The Budget Law for 2013, which sets 37 dollars a barrel as reference price, expects oil tax collection of 21.2 billion dollars. So far, the government managed to collect 96 percent of the expected oil tax revenues during the first four months of the year.

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