After six months of exercise for the current government, Algeria has, Tuesday, June 23, a new Minister of Energy and a new Minister of Finance, reported Algerian television. This partial reshuffle is taking place against the backdrop of falling revenues from Sonatrach, the Algerian oil and gas company.

The Energy portfolio is entrusted to Abdelmadjid Attar, former director of the public company, while Finance goes to the governor of the Central Bank, Ayman Benabderrahmane. The outgoing Minister of Energy, Mohamed Arkab, is moved to head the Ministry of Mines.

The coronavirus pandemic has accentuated a movement of decline in the revenues that Algeria has drawn from its oil and gas reserves observed for years. Since 2014, the country has consumed more than half of its foreign currency reserves.

With Reuters

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