Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by...

The main body of the Glossary consists of terms, phraseological units, and institutional titles covering areas such as macroeconomics, money and banking, public finance, taxation, balance of payments, statistics, accounting, and economic development