Others could follow UAE’s move to cut fuel subsidies, says Fitch | The National:
"The ratings agency Fitch said the recent move by the UAE to remove the subsidy on transport fuel could encourage other countries in the region to follow suit if it is successful.
“We think that governments in the region understand the benefits of subsidy reform, including both fiscal cost savings, and more efficient resource allocation and energy consumption,” Fitch said. “However, reforms have so far been uneven and incomplete.”
Fuel prices in the UAE will be deregulated from next month and a new policy linked to global prices will be adopted, the Ministry of Energy said last week."
'via Blog this'
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