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Tuesday, 28 January 2020

"Tough choices" needed in the Middle East on subsidies, IMF official

Reuters, Tuesday 13 Nov 2012
Views: 797
Views: 797

Middle East countries that are currently going through a transition face tough choices to unwind a system of subsidies which helped to sap resources from the state, First Deputy Managing Director of the IMF David Lipton said on Tuesday.

"In almost all these countries, there are very substantial energy and food subsidies," he told a seminar at the Houses of Parliament in London.

"There will have to be tough choices made to unwind this whole system which was based really in the previous era."

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