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Gulf energy subsidies worth US$160b a year: World Bank

Such subsidies are crowding out public spending on health, education and investment: report

Kuwait city

ARAB states in the Gulf, which pump a fifth of the world's crude oil, spend more than US$160 billion on energy subsidies annually, a top World Bank official said on Tuesday.

"Gulf states spend around 10 per cent of their gross domestic product every year on energy...

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