Algeria bans imports of cell phones, furniture, food to curb trade deficit

Algeria has banned the import of 900 products including cell phones, household appliances and vegetables in a bid to cut spending following a drop in earnings from oil and gas, a trade ministry document showed today. The temporary ban, which took effect on Sunday, is the most drastic action undertaken yet by the North African OPEC oil producer to curb a ballooning deficit caused by the fall in crude oil prices since mid-2014. Algeria relies on oil and gas for 60 per cent of the state budget but earnings from the sector have halved since oil prices collapsed hitting the state-dominated economy hard.