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Global Economic Prospects report

Global Economic Prospects report latest

World Bank Calls on Oil-Exporting Countries to Eliminate Energy Subsidies
June 3rd, 2020 - 08:30 GMT

World Bank Calls on Oil-Exporting Countries to Eliminate Energy Subsidies

The World Bank has urged oil-exporting Mena countries to eliminate energy subsidies, review energy-pricing policies, and diversify further economies amidst low crude prices. "For energy-exporting countries, eliminating costly energy subsidies could help offset the collapse in revenue from oil extraction given that oil prices are well below their fiscal breakeven points. Economic and financial weaknesses in energy exporters are especially likely to pose difficulties. For the energy exporters, this will ...
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