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FINANCIAL NEWS
Energy subsidies costs USD237 b annually in MENA
18 Nov 2013
(MENAFN) Badr Jafar, vice chair of the Global Agenda Council for Energy Security and managing director of Crescent Group, called in the World Economic Forum Summit on the Global Agenda to examine the obstacles in the market caused by energy subsidies in the MENA region, according to Arab News.
Jafar also highlighted the the unintended adverse consequences of energy subsidies in a report by the World Economic Forum’s Energy Security Agenda Council.
The report also showed that USD532 billion were spent on energy subsidies all over the world in 2011.
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