MARKETS: IMF says rising petroleum subsidies could reach $742 billion by year-end

(EnergyAsia, May 25 2010, Tuesday) — The International Monetary Fund (IMF) has expressed concern with rising petroleum subsidies around the world as they are costly, inequitable and harm national budgets and the environment. In a special paper, it projects that petroleum subsidies, which will benefit higher income households, could reach almost $742 billion by year-end….

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