Financial Times

Fuel price hike?
The Central Bank last week warned that delays in increasing fuel prices is putting pressure on the budget and widening the external trade deficit.

In a statement that appeared to indicate the government is considering another fuel price hike, the Central Bank said crude oil prices had increased by over $10 per barrel to $ 55 since September, when domestic fuel prices were last increased.

It described as a "major concern" the continued increase in international oil prices, as it could worsen the trade balance and the fiscal sector through the increase in subsidy payments unless "appropriate corrective measures" are taken.

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