About: http://data.cimple.eu/news-article/dd395cd81601845a3b7ccfb2ea4377f7af3a95c0fe0a43cbda8115da

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Oil producer Algeria decided Sunday to reduce its public spending in the wake of a coronavirus-induced collapse in hydrocarbon prices that has destroyed revenue projections for the current year. At the end of a cabinet meeting chaired by President Abdelmadjid Tebboune, the presidency announced the state's operating budget would be slashed by 30 percent, without specifying the new level of spending. The 2020 budget had been based on an oil price of $60 per barrel, but prices dipped to $22.50 at one stage last week, due to the impact of the deadly new coronavirus on global demand and a price war among major oil producers. Algeria's state oil giant Sonatrach would be required to halve operating and capital expenditure from the $14 billion set out previously to $7 billion in order to preserve the nation's foreign currency reserves, the statement said. But the government would not slash civil servants' wages and it hoped not to have to reduce spending on health or education, it added. amb-agr/on/dwo/sw
schema:headline	Algeria says to slash spending in response to oil price crash
schema:mentions	Sonatrach Cabinet of the United Kingdom Barrel Capital expenditure Petroleum Algeria United States dollar Coronavirus President of the United States Abdelmadjid Tebboune Price war
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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