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 by AFP Staff Writers Algiers (AFP) Nov 22, 2022
Algeria plans to allocate nearly $23 billion to defence next year, more than double that set aside in 2022, according to a draft budget adopted by lawmakers on Tuesday. The surge in spending comes as Africa's top natural gas producer has seen its revenues buoyed by elevated hydrocarbon prices over the past year. It also comes amid heightened tensions between Algeria and neighbouring Morocco, including over the disputed Western Sahara. The total allocated to defence in 2023 will be 3.186 trillion dinars ($22.8 billion), up from 1.3 trillion dinars for 2022, according to the budget approved by the lower house of parliament. The upper house will also have to approve the spending. The overall budget is predicated on a forecast economic growth rate of 4.1 percent and inflation of 5.1 percent, along with an oil price of at least $60 a barrel.
Qatar signs world's 'longest' gas supply deal with China Doha (AFP) Nov 21, 2022 QatarEnergy announced a 27-year natural gas supply deal with China Monday, calling it the "longest" ever seen as it strengthened ties with Asia while Europe scrambles for alternative sources. The state energy company will send four million tonnes of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation (Sinopec), it said. The deal "marks the longest gas supply agreement in the history of the LNG industry", said Saad Sherida al-Kaabi, Qat ... read more
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