(Reuters) – 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.
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.
(Reporting by Moaz Abd-Alaziz and Nayera Abdallah; Writing by Moaz Abd-Alaziz; Editing by Leslie Adler)
