The International Monetary Fund voiced alarm today about energy subsidies across the world, saying they were expected to reach US $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% 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 between the amount of …read more
Source: Daily News & Analysis
