Morocco’s subsidies spending surges to $4 bln in 2022 – The North Africa Post

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Morocco’s spending to support the purchasing power of its citizens at a context of imported inflation rose to 40 billion dirhams ($4 bln), finance minister Nadia Fettah Alaoui said.

According to her, more than 50% of subsidies budget at 22 billion dirhams went to cooking gas subsidies. This was due in part to the increase in international market prices.

This aid allowed prices for a cylinder gas to remain at 40 dirhams, instead of the real 90 dirhams.

After market disruptions caused by the war in Ukraine, wheat subsidies rose to 10.5 trillion dirhams.

Morocco has reduced fuel prices, but it has also restored targeted measures to assist professional transporters in reducing the impact of expensive fuel on transport costs. It has offered them 3.9 billion dirhams.

The government paid 5 billion dirhams (about 5 billion) to ONEE, the nation’s electricity utility, to keep electricity prices stable.

Morocco’s budget deficit stood at 69.5 billion dirhams in 2022, according to the finance ministry.

Source: north africa post

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