Majlis Sets $8b Subsidy Cap for Importing Basic Goods

February 23, 2021
finance & economy

T he Majlis on Monday restricted the government’s ability to use subsidized foreign currency for importing basic goods in the next fiscal year that begins in March.

Reviewing the next budget bill, MPs approved a government proposal in the revised version of the budget to continue the policy to allocating cheap currency for critical imports.

They, however, decided that the government must mot earmark more than $8 billion in cheap currency for importing basic goods and pharmaceuticals, the parliamentary news website ICANA reported.

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