Gupta, Sanjeev; Clements, Benedict J.; Fletcher, Kevin; … - International Monetary Fund (IMF) - 2002
This paper discusses issues relating to the domestic pricing of petroleum in oil-producing countries. It finds that in … implicit subsidies that equaled 3.0 percent of GDP, on average, in 1999. Moreover, the paper argues, these petroleum subsidies …-and also procyclical, complicating macroeconomic management. Nonetheless, the elimination of petroleum subsidies is often …