Algeria to cut service imports as cost exceeds 11 bln USD

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ALGIERS, Aug. 8 (Xinhua) -- The Algerian government will cut service imports after their cost hit 11.42 billion U.S. dollars, and resort to the domestic service market as an alternative to stem hard currency depletion, according to the official APS news agency on Thursday.

Algerian Prime Minister Noureddine Bedoui held a government meeting to discuss Finance Minister Mohamed Loukal's proposed measures to be taken to trim the balance of payment deficit in a bid to maintain the North African country's foreign exchange reserves.

The minister dwelt on the service sector, mainly services pertaining to maritime transport, public works, construction and technological studies, APS quoted a government statement.

According to the official statistics in 2018, Algeria's imported maritime transport services cost 2.95 billion dollars, construction and public works 2.65 billion dollars and technological assistance 3.22 billion dollars. Enditem

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