01 May '11, 9pm

TODAY: Rising oil prices likely to stall Asian economies with high fuel subsidies: SINGAPORE - Rising oil prices...

SINGAPORE - Rising oil prices are likely to weigh down heavily on Asian governments with high fuel subsidies, economists said. They said that should oil prices continue to rise, fuel subsidies will take a larger share of government spending, which means that there will be less money available for other fiscal projects such as infrastructure. Most investors expect the demand for oil to remain strong amid the global economic recovery and further helped by concerns over supply due to the unrest in the Middle East. But they are also concerned about many Asian countries that have significant portions of their budgets allocated to fuel subsidies to help cushion the impact of rising oil prices and how that is likely to affect their economic performance. With oil prices expected to remain above the US$100 mark this year, economists say this will have implications for Asia's econom...

Full article: http://www.todayonline.com/Business/EDC110502-0000309/Ris...

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