For example, Bahrain's subsidy
bill shot up from 17 per cent to 34 per cent of oil revenues and KSA's from 11 per cent to 20 per cent between 2013 and 2015.
The linking of domestic fuel prices to international benchmarks would also set the way for near-automatic price increases in the future, eliminating the subsidy
costs that would have been incurred if international oil prices increase going forward," said Jean-Michel Saliba, Mena economist at Bank of America Merrill Lynch.
Country experiences suggest there are six key elements for subsidy
is 230 rials (7 mils) per kilometer of freight traffic carried by Iran's railroads.
Besides, another ` 40,000 crore of the subsidy
that has not been paid in 2014- 15 will be carried over to the next financial year.
A senior member of the panel said the Indian Government spends around Rs 1 lakh crore on fertiliser subsidy
reform plan is aimed at easing pressure on state finances by cutting tens of billions of dollars from government subsidies on food and fuel.
reform, in theory, can enable a country to boost its economic growth rate, a key criterion for political stability and social/human development.
In fact, some predicted the fuel subsidy
removal would take place during the Eid holiday, which it did.
Therefore, countries in the Mena region could benefit from reforming their subsidy
systems, said the report.
Countries in MENA could therefore benefit from reforming their subsidy
systems for a number of reasons.
617 trillion compared with in 2014, and electricity subsidy
The state energy subsidy
bill in Tunisia is the smallest in the region, but is still estimated to be worth around $2bn, or more than 10 percent of the national budget.
The second phase of the subsidy
reforms plan will go into effect by the end of this (Iranian) week (i.
estimation and transparency initiatives need to be scaled up and consolidated.