IMF urges further energy price reforms

摘要

The IMF is pressing oil exporting countries in the Middle East and north Africa to continue energy price reforms, despite an economic slowdown. Mideast Gulf producers began a process of rolling back generous energy subsidies in 2015, as a way to cut their budget deficits. The effort proved uneven, and continuing the drive this year will be particularly challenging, as the countries seek to reduce crude output to comply with Opec's production cut agreement. The IMF expects economic growth in the Gulf Co-operation Council (GCC) - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE - to slow to 0.9pc in 2017 from 2pc last year.