Sonatrach's 2023 revenue seen rising by $6.29 bln -Algeria's budget law

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.

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. ($1 = 134.8333 Algerian dinars)