IMF managing director Kristalina Georgieva said yesterday she is confident about the economic outlook despite uncertainties around war and geopolitics as the global economy has remained resilient.
In a speech at the World Governments Summit in Dubai, Georgieva said the IMF would publish a paper today that shows phasing out explicit energy subsidies could save US$336 billion in the Middle East, equivalent to the economies of Iraq and Libya combined.
She added that in addition to savings, eliminating regressive energy subsidies “discourages pollution, and helps improve social spending,” in a copy of the speech published on the IMF Web site.
Photo: Reuters
In its latest regional…
