Fuel subsidies in major economies

While there are relatively few major economies that provide explicit subsidies for gasoline (having lower prices than supply costs ), there are several that provide subsidies for electricity. IMF estimates suggest that Russia spent over 1.5% of GDP on electricity subsidies in 2022, while Malaysia spent almost 2% of GDP on gasoline subsidies. South Africa spent over 1% of GDP on electricity subsidies according to IMF estimates.

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