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ALGIERS, June 3 (Xinhua) -- Algeria's foreign exchange reserve plummetted by more than 17.4 billion U.S. dollars from 2017 to 2018, according to a statement by Bank of Algeria on Monday.
Algeria's reserve decreased to 79.88 billion dollars in 2018 from 97.33 billion dollars in 2017, noted the statement, ascribing the decline to rising imports compared with exports and the deficit registered by the Finance Ministry.
The statement expected the reserve to go down and called for more corrective efforts as far as the state budget is concerned in order to regain stability for the balance of payments.
