3.5 Billion Diesel Subsidies 2008
The problem with the diesel subsidies is the vast majority of the money dedicated to supporting the low oil price actually helps the smugglers not the poor. About a third of the entire government budget is spent on subsidies.
SABA FM: Govt supported oil derivatives with $ 3.5 billion in 2008
SANA’A, Nov. 15 (Saba)- Government supported oil derivatives with $ 3.5 billion last year, Minister of Finance said on Sunday.
In a meeting for the technical committee of ministerial office for priorities, the minister Noman al- Sohibi said that such support made a big burden on the general state budget, adding that the government also supported the sector of electricity with $ 1.1 billion in 2008.
He affirmed importance of decrease the support of the government for oil derivatives in order to insure continuing funds of the state.
