|
|
|
|
|
|
Author/Editor:
|
Piotrowski, John ; Coady, David ; Tyson, Justin ; Ossowski, Rolando ; Gillingham, Robert ; Tareq, Shamsuddin
|
|
|
|
|
|
Publication Date:
|
February 25, 2010
|
|
|
|
Electronic Access:
|
Free Full text
(PDF file size is 626KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
|
|
|
|
Summary:
Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for setting petroleum product prices is necessary to reduce the fiscal burden of these subsidies and to address climate change. Between 2003 and mid-2008, global consumer subsidies for petroleum products are estimated to have increased more than eightfold, from $57 billion to $490 billion. Although subsidies decreased to $136 billion by mid-2009, they are projected to increase to $237 billion by end-2010 (or nearly 0.3 percent of global GDP). Tax-inclusive subsidies, reflecting sub-optimal taxation of petroleum products, are projected to increase to $733 billion, or 1.0 percent of global GDP. G-20 countries account for over 70 percent of tax-inclusive subsidies. Halving tax-inclusive subsidies could reduce projected fiscal deficits in subsidizing countries by one-sixth and greenhouse emissions by around 15 percent. Subsidy reform strategies should contain measures to mitigate the impact of higher prices on the poorest groups.
|
|
|
|
Order a print copy
|
|
|
|
|
|
Series:
|
Staff Position Note No. 2010/5
|
|
|
|
Frequency:
|
Monthly
|
|
|
|
Subject(s):
|
Subsidies | Taxes | Commodity price fluctuations | Fiscal reforms | Governance | Oil exporting countries | Oil product prices | Oil subsidies | Price stabilization
|
|
|
Author's Keyword(s):
|
Petroleum products | subsidies | taxes | subsidy reform | pricing mechanism |
|
|
|
Notes
|
Link to data for this title, (csv file, size is 27 KB)
|
|
|
|
|
|
|
|
|
English
|
|
|
|
|
|
|
Publication Date:
|
February 25, 2010
|
|
|
|
|
ISBN/ISSN:
|
9781455239108
|
|
Format:
|
Paper
|
|
Stock No:
|
SPNEA2010005
|
|
Pages:
|
21
|
|
Price:
|
|
|
|
|
|
|
|
|
|
|
|
English
|
|
|
|
|
|
|
Publication Date:
|
February 25, 2010
|
|
|
|
|
ISBN/ISSN:
|
978-1-58906-969-5 / 2072-3202
|
|
Format:
|
A web quality merged PDF
|
|
Stock No:
|
SPNET2010005
|
|
Pages:
|
20
|
|
Price:
|
|
|
|
|
|
|
|
|
|
|
|
|
Please address any questions about this title to
publications@imf.org
|
|
|
