24 Hrs
Source:
مأرب برس
Houthi attack disrupts Riyadh flights
We read that the government plans to gradually eliminate fuel subsidies, affecting the prices of goods, with a plan to phase out support between 2024 and 2026. The first phase is expected to begin in August 2024, with the fuel subsidy amounting to approximately $120 billion annually prior to implementing the reforms. The goal is to improve public finances and ease the burden on the national budget, while considering the impact of lifting subsidies on fuel and essential goods prices. The news report mentioned that the government is working on a well-thought-out plan to ensure a smooth transition and to minimize the social and economic effects resulting from this change.
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