29 Apr '11, 3pm

Rising oil prices likely to impact Asian countries with high fuel subsidies

SINGAPORE: Economists say that rising oil prices are likely to have an impact on Asian countries with high fuel subsidies, adding that should oil prices continue to rise, fuel subsidies will take a larger share of government spending. This means that there will be less funds allocated for other fiscal projects such as infrastructure. Investors are bullish on oil and the demand continues to remain high with concerns over unrest in the Middle East, and many Asian countries have portions of their budgets allocated to fuel subsidies to help cushion the impact of rising oil prices. However, with oil prices expected to remain above the US$100 mark this year, economists say this will bode implications for Asian's economies. Malaysia and Indonesia currently have the largest fuel subsidies in the South-East Asian region amounting to over 1 per cent of their GDPs, and both are expec...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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