Thursday 25 December 2014
 
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Subsidies

Egypt says lower oil prices to slash energy subsidies bill by 30pc

Egypt expects to slash its energy subsidies bill by 30 per cent in the 2014-15 fiscal year if global oil prices remain low, the oil ministry said, potentially lightening the burden on the cash-strapped co

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Syria to increase spending by 12pc in 2015

Syria's state spending is expected to rise 12 per cent to 1.55 trillion Syrian pounds ($9.10 billion) next year, driven by higher social support costs, state news agency Sana reported citing a draft budget presented to lawmakers on

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Malaysia to cut fuel subsidies to shore up finances

Malaysia will abolish subsidies for petrol and diesel from December 1, the government said on Friday, taking a bold step that could potentially save the government some 20 billion ringgit ($5.97 billion) annually. Malaysia joins I

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Kuwait starting to cut subsidies, says IMF

Kuwait's government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said. Subsidy cuts are an impo

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IMF to loan $560m to Yemen

Yemen has reached agreement with the International Monetary Fund on a $560 million loan, the finance minister said on Friday, after the government cut fuel subsidies and ordered curbs on public spending. The second poorest Arab country

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Changes 'imminent' in Bahrain subsidies system

Changes to the system of providing government subsidies in Bahrain are "imminent" and the issue is being studied, it was announced yesterday. The government currently subsidises fuel, flour and meat (livestock and chicke

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Subsidy costs soar 73pc in Bahrain

The cost of government subsidies has increased by 73 per cent in five years, rising from BD822 million ($2.15 billion) in 2007 to BD1.126 billion last year, Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa said. The figures are

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'Subsidies on basic staples won't be lifted'

Government subsidies in Bahrain on basic commodities, including meat, will not be removed, reassured a top official. Minister of State for Information Affairs Sameera Rajab yesterday dismissed reports in local newspapers, citing u

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Bahrain to scrap asphalt subsidies

The Bahrain government's subsidies on asphalt are to be scrapped. The price will be deregulated as of January 1 for lack of economic viability, the National Oil and Gas Authority announced yesterday, said a report in the Gulf

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Mideast facing ‘double dilemma’ over oil future

The Middle East is facing a double dilemma over the global competitiveness for oil in the future, said experts at a panel discussion held by the International Institute for Strategic Studies (IISS) - Middle East in Bahrain. On the

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