Oman to start cutting utility subsidies in January ...Saudi Arabia

Author: ReutersID: 1608455467402329300Sun, 2020-12-20 09:01 DUBAI: Oman will start reforming its expensive system of subsidies in January by shifting the focus of its electricity and water spending to its poorest citizens, the government said on Sunday. The plan, along with labor laws, privatizations and new taxation, is aimed at reducing a yawning fiscal deficit expected to come to 10% of economic output this year, according to an International Monetary Fund forecast. The government said the new subsidy system for electricity and water will exclude households earning more than 1,250 rials ($3,260) a month. Families with income of less than 500 rials will continue to receive government s

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