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(World Bank) Arden Finn, Gianluca Mele, and Nur Nasser Eddin - The Palestinian Authority (PA) subsidizes fuel. In 2021, the fuel subsidy provided by the PA Ministry of Finance was $77 million. In 2022, the fuel subsidy rose by 191%. Subsidies mean that fuel retail prices in the Palestinian territories are lower than the global oil price. Richer households receive a higher share of subsidies since they consume a higher amount of fuel than poor households. The fuel subsidy going to the richest 10% in the West Bank is almost four times higher than the amount going to the poorest 10%.2023-08-31 00:00:00Full Article
Reforming Fuel Subsidies in the Palestinian Territories
(World Bank) Arden Finn, Gianluca Mele, and Nur Nasser Eddin - The Palestinian Authority (PA) subsidizes fuel. In 2021, the fuel subsidy provided by the PA Ministry of Finance was $77 million. In 2022, the fuel subsidy rose by 191%. Subsidies mean that fuel retail prices in the Palestinian territories are lower than the global oil price. Richer households receive a higher share of subsidies since they consume a higher amount of fuel than poor households. The fuel subsidy going to the richest 10% in the West Bank is almost four times higher than the amount going to the poorest 10%.2023-08-31 00:00:00Full Article
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