Many countries spend more on the harmful subsidies than they do on health, education or poverty reduction, the bank says, and the subsidies are entrenched and hard to reform as the greatest beneficiaries tend to be rich and powerful.
Reforming subsidies would provide vital funding to fight the climate crisis at a time when public coffers are stretched, the bank says.
The "toxic" subsidies total at least $7.25tn (£5.6tn) a year, according to a major report from the bank. The explicit subsidies - money spent by governments account for about $1.25tn a year, or more than $2m a minute. Most of these are harmful, the bank says.
هذه القصة مأخوذة من طبعة June 16, 2023 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 16, 2023 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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