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UN Says Global Fuel Subsidies Could Top $1 Trillion

Started 02 Oct, 09:30 1 events Updated 20h ago
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  1. Economic02 Oct, 09:30

    UN Says Global Fuel Subsidies Could Top $1 Trillion

    Fuel subsidies amid the oil price shock could exceed $1 trillion this year, the United Nations said, warning that many governments are running out of fiscal resources to sustain subsidies, fuel tax reductions, or price caps. Estimates in a United Nations Development Programme (UNDP) report suggest that at current energy prices, global fossil fuel subsidies could easily surpass $1 trillion this year. “Countries are reaching a breaking point in their efforts to shield vulnerable populations from energy and food price hikes,”…

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