Fuel Subsidies May Prevent Spending on Poorest, World Bank Says

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Businessweek

Energy subsidies may be preventing governments from Egypt to Malaysia from spending enough on social programs that would help the poor, the World Bank said.

Fuel subsidies are highest in the Middle East and North Africa, where they account for more than 4 percent of gross domestic product, the World Bank said in a report released today. That compares with 1 percent of GDP spent on social safety net programs such as conditional cash transfers, it said.

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