Sama governor calls for subsidy cuts
Energy and water subsidies create price distortions and waste
Policy-makers in Saudi Arabia should make efforts to cut back on various inefficiencies afflicting the economy, including excessive subsidies, Fahad Al-Mubarak, governor of the Saudi Arabian Monetary Agency (Sama), said yesterday.
In remarks made during a workshop on sustainable development, Al-Mubarak said that despite "huge" achievements to date, there were still many "challenges" to overcome. In particular, subsidies on water and energy create "distortion and a large waste of those important
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