Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said on Sunday, citing the 2023 budget approved earlier in the day by President Abdelmadjid Tebboune, Trend reports citing Reuters.
The budget set the market price for crude oil at $70 a barrel during the same period.
The North African country expects inflation to reach 5.1% and sees economic growth at 4.1% in 2023, APS said.
The president stressed the importance of raising gas output in order to boost exports, APS added.