Powered by lexis nexis

IMF says more reforms still needed by Mideast oil exporters

May 02, 2017 - Associated Press Financial Wire

DUBAI, United Arab Emirates (AP) - The International Monetary Fund said on Tuesday oil exporting countries in the Middle East continue to have the world's largest energy subsidy bill and that additional reforms are still needed to curb government spending.

In its updated regional outlook report, the IMF said money spent each year on subsidies from these oil exporting countries is down from $190 billion in 2014 to a current estimate of $86 billion a year. This was largely due, however, to a...