Transfers to EDL dropped 53 percent from $720 million in the first quarter of 2009, as oil prices kept lower levels than in the previous year.

Payments to EDL for the quarter constituted 20 percent of total primary expenditures, a report released by the Ministry of Finance showed.

96 percent of total transfers or nearly $320 million, were reimbursements for oil supply paid to Kuwait Petroleum Company (KPC) and Algeria’s Sonatrach. Payments to the two oil suppliers fell 53 percent compared to $695 million a year ago in the same period.

Nearly four percent of payments or $15 million went for debt service, which includes principle payments, and interest payments. Total principle payments reached $12 at the end of March while interest payments stood at $3 million at the end of the period.