Saudi Arabia’s $7,000 Per Person Fuel Subsidies Highest in G-20
- IMF says total Saudi subsidies at nearly $7,000 per capita
- Fund has been urging the kingdom to work on subsidy reforms
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Saudi Arabia’s total spending on fuel subsidies soared over the past two years, hitting the highest among the Group of 20 economies on a per capita basis.
The country spent almost $7,000 per person, equivalent to about 27% of economic output, across both explicit and implicit energy subsidies, according to a paper published by the International Monetary Fund.