Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


(Reuters) – Pandemic-related disruption to global supply chains and the knock-on effects of Russia’s war in Ukraine have combined to drive up prices of energy, commodities and basic necessities.

Below is a list of some of the actions taken by governments aimed at offering relief to hard-hit consumers and companies:


* Brazil’s oil giant Petrobras has cut fuel prices multiple times this year. In July, the government slashed fuel taxes and raised social welfare payments.

* Mexico’s president will meet with food producers and distributors to potentially prevent price increases for 24 basic items. In August, officials said inflation subsidies had already cost some 575 billion pesos ($28.91 billion) this year.

* Canada on Sept. 13 announced a C$4.5 billion ($3.34 billion) package with a tax credit for families of low and modest incomes, and a one-time top-up to a benefit which helps low earners pay rent.

* The United States offered debt relief to former students, while the $430 billion “Inflation Reduction Act” unveiled in August aims to cut prescription drug prices and introduce tax credits to encourage energy efficiency.

* Chile in July announced a $1.2 billion aid plan including labour subsidies and one-time payments for those most affected.


* The European Union plans to raise more than 140 billion euros ($138 billion) for inflation relief by skimming off revenues from low-cost electricity generators and making fossil fuel firms share windfall profits.

* Britain will cap wholesale electricity and gas costs for businesses at less than half the market rate. A plan announced in September to help households is likely to cost north of 100 billion pounds ($113 billion).

* Germany agreed to nationalise gas importer Uniper. In early September, the government announced a 65-billion-euro-package for consumers and businesses.

* France is expected to launch its takeover of power group EDF by the end of September, sources said. It will also cap household power and gas price increases at 15% next year, and in August passed a 20-billion-euro relief bill.

* Greece will pay out a further 1.1 billion euros in power bill subsidies in October to households and businesses.

* Hungary extended price caps on fuels and basic foodstuff until the end of the year.

* Norway agreed to spend 3 billion Norwegian crowns ($290 million) to help businesses. It is also helping households with electricity bills.

* Italy on Sept. 16 approved a package worth some 14 billion euros.

* Poland will spend over 30 billion zlotys ($6.2 billion) to freeze power prices and support companies. It will also raise the minimum wage twice next year.

* The Czech Republic will cap electricity and gas prices next year.

* Portugal cut VAT on electricity and provided one-off payments for workers, families, and pensioners.

* Spain will slash VAT on gas to 5% from 21%, starting from October.

* Croatia will cap electricity prices from Oct. 1 until March.

* Finland and Sweden will offer liquidity guarantees to power companies.

* Denmark in August capped annual rent increases at 4% for the next two years, adding to previous measures.


* Thailand on Sept. 13 extended a diesel tax cut and energy subsidies and raised the minimum wage.

* India on Sept. 8 restricted exports of rice, looking to boost supply and calm local prices. It has also set up a panel to review pricing of locally produced gas.

* Japan will present another economic package in October, adding to a record minimum wage hike and a $103 billion relief bill unveiled in April.

* Indonesia’s government on Sept.14 ordered regional heads to keep food inflation below 5%. In August, the government agreed to reallocate 24.17 trillion rupiah ($1.61 billion) from fuel subsidies to welfare spending.

* Malaysia expects to spend a record 77.3 billion ringgit ($16.93 billion) in aid this year.


* Tunisia’s government on Sept. 15 signed a deal with a major labour union to raise public sector pay and the minimum wage.

* Egypt on Aug. 30 announced a package to clear a backlog of goods in ports and help reduce commodity prices.

* South Africa in July announced a cut in the pump prices of fuel.

* Botswana in July cut VAT by 2% for six months.

* Turkey in July increased its minimum wage by about 30%, adding to the 50% rise seen at the end of last year.

* Saudi Arabia and the United Arab Emirates in July raised social welfare spending.

($1 = 19.8916 Mexican pesos)

($1 = 1.3479 Canadian dollars)

($1 = 1.0140 euros)

($1 = 0.8846 pounds)

($1 = 10.3426 Norwegian crowns)

($1 = 4.8296 zlotys)

($1 = 80.8750 Indian rupees)

($1 = 15,015.0000 rupiah)

($1 = 4.5650 ringgit)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts