Algeria sets reference price for oil at $60 barrel through 2023/2025

 (Reuters) – Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said, 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.