🛢💸 Global subsidies for increasingly expensive energy will exceed $1 trillion, UN says ▪️Governments worldwide are running out of options to protect consumers from rising energy prices caused by the war with Iran and other crises. Fuel subsidies could cost more than $1 trillion this year, the United Nations Development Programme states. ▪️Failure to introduce emergency support measures amid the energy crisis could push 130 million people below the poverty line. ▪️However, the situation is being exacerbated by El Niño-related natural disasters, which will cause food shortages, and by sharply higher borrowing costs, making it harder to allocate funding to support households. #info #resources
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