(Washington / Amman Composite Electric) According to the International Monetary Fund (IMF), the total amount of global stone fuel subsidy reached a record high of 7 trillion US dollars (about 9.5 trillion yuan) in 2022, which is more than two years ago.That is, the increase of $ 2 trillion in 2020.
TheIMF report pointed out that consumption recovery and energy prices soared due to the Russian and Ukraine War, which led to rising fossil fuel prices. This not only increased budget pressure, but also exacerbated global pollution and climate warming.
IMF said that the total subsidy of petroleum, coal, and natural gas is equivalent to 7.1 % of the global total output value, which is higher than the total educational expenditure (4.3 %), which is also equivalent to two -thirds of the total medical expenditure (10.9 %).
IMF warning, hidden subsidies (including the low cost of environmental costs and the failure cost of taxation for consumption) have occupied a majority of fossil fuel subsidies, and with the destruction and spread caused by climate warming,The hidden subsidy will continue to rise.Last year, the total subsidy was more than $ 5 trillion.
Electricity price and oil price explicit subsidies have doubled since 2020
Differential subsidies, that is, the government's direct subsidies given directly to low electricity prices and oil prices have increased by more than doubled since 2020 to $ 1.3 trillion.IMF said that as energy prices have fallen, such subsidies will decline.
IMF estimates that the cancellation of explicit and hidden fossil fuel subsidies can prevent 1.6 million people from dying prematurely each year, increase government revenue of 4.4 trillion US dollars, and make carbon emission reduction.
Africa and other developing countries have to reduce fuel subsidies in recent years, partly due to high debt and borrowing costs.The pressure of rich countries in this regard is less.
