Regarding the big fuss about the news where no more subsidies for petrol starting this December, theres an explanation for it. The gov is trying to reduce the deficit by 3,5% of GDP by 2020. How to do this? By increasing the tax, reducing gov expenses and also, abolishing petrol subsidies (This alone will save the gov $8b). As soon as this news was announced, our currency rose by 0.3%. So, I can actually see where the gov is going but as usual, theres always room for improvement :)
Posted on: Fri, 21 Nov 2014 22:00:58 +0000
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