ALGIERS, 31st December, 2015 (WAM) — Algeria’s parliament on Monday approved increases in subsidised gasoline, diesel, gas and electricity prices as part of its 2016 budget, in the latest attempt by the government to cope with a sharp fall in energy earnings.

According to Reuters, the 2016 Budget Law also included a 9 percent cut in spending, reversing an upward trend in government expenditure over the past years. Algeria has said it expects its energy earnings to fall by 50 percent this year.

WAM/Ahlam/Moran