Washington (AFP) – The International Monetary Fund voiced alarm Monday about energy subsidies across the world, saying they were expected to reach $5.3 trillion in 2015, more than government health spending.”These estimates are shocking,” the IMF said in a report, noting the figures were among the largest negative factors for economic growth it had ever estimated, piling up adverse effects on efficiency, growth and inequality.The report estimated that this year’s energy subsidies represent 6.5 percent of the global economy, likely exceeding government health spending across the world.Long an opponent of energy subsidies, the IMF defines them as the difference …read more
Source: Business Insider
