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
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
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
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
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
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
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
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
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