(MENAFN) Abu Dhabi's government is reportedly looking at ways to reform its system of subsidies for electricity and water to deal with these subsidies weighing heavily on its budget, Arab News reported.
Abu Dhabi's government said that it is currently looking at ways to streamline their subsidy policies and put in place a better targeted method for handling their subsidies, particularly their electricity and water.
The decision to look at new ways come as the result of subsidies and transfers accounting for nearly 20 percent of annual expenditure, which is estimated to value USD13.0 billion this year.
The decision also follows the plunge in oil prices which resulted in other Gulf countries to also look at their subsidies and resulted in Kuwait and Oman planning to cut their subsidies.
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