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Fuel subsidies may top $1tr as Iran war drags, UN says
Fuel subsidies may top $1tr as Iran war drags, UN says
Governments around the world are running out of room to shield consumers from higher energy prices resulting from the Iran war and other crises, with fuel subsidies potentially costing more than $1 trillion this year, a United Nations study found.
Global policy interventions to cushion the impact of rising food and energy prices will become more difficult to sustain as a result of higher borrowing costs and what's on track to be the strongest El Niño on record, according to a UN Development Programme report released Friday.
The UNDP…
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