The Moroccan government set its agenda to subsidise butane gas, sugar, and soft wheat flour, allocating 16.35 billion ($1.5 billion) in the 2024 finance bill for that purpose.
The move, which was made at the Moroccan parliament on Friday, indicates governments’ commitment despite the increased volatility of these commodities in the international market.
It reflects a significant reduction compared to the MAD 26.58 billion ($2.5 billion) allocated in the previous year’s finance law.
The reduction in funding is seen as a strategic response to changing economic circumstances and a need to streamline resources.
However, the government has acknowledged the need to adjust these allocations in 2024 in light of evolving market dynamics.
In addition, the government continued to provide exceptional direct support throughout the year to address national fuel price increases, particularly compared to pre-pandemic levels.This support demonstrates the government’s proactive approach to ensuring the continued functioning of crucial sectors, despite the challenges presented by the uncertain global economic landscape.
In the process of continuing development, Morocco has recently allocated an annual budget of MAD 9.5 billion ($919.6 million) to fund the much-anticipated direct housing assistance program.
The initiative is scheduled to begin on January 1, 2024, and it promises to benefit an astounding 114,000 families within a year.
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