Compensation Fund

Articles

• Morocco’s Subsidy Costs Soar 16 Billion Dirhams Above Budget as Global Prices Surge
  10 June 2022, by Armel

  The explosion in compensation fund expenses observed since the beginning of the year continues. At the end of May, the charges increased by 16 billion dirhams compared to the budget forecasts.
  Initially set at 17 billion dirhams in the 2022 Finance Act, the compensation charges have reached new heights, according to the figures published by the Delegate Minister in charge of the Budget, Fouzi Lekjaâ, during the press conference held at the end of the Council of Government.
  To explain (…)

• Morocco to Continue Gas Subsidies in 2020, Keeping Prices Affordable
  22 October 2019, by Bladi.net

  Rumors that the Moroccan government would end gas subsidies are false. These will be maintained next year.
  The 2020 Finance Bill confirms this renewal by specifying that the compensation is maintained in the same way as sugar and national soft wheat flour (FNBT).
  All these subsidies should cost 13.64 billion dirhams (MMDH), or 4 billion less than in 2019.
  Thanks to this compensation, the price of the gas bottle is simply 50 dirhams, while without the compensation, this price could (…)

• Morocco Rejects Fuel Subsidies, Citing $10 Billion Price Tag
  19 November 2022, by Armel

  Insistently demanded by transport unions, due to the rise in pump prices, subsidizing fuel would cost the state 100 billion DH, according to the government spokesman.
  Mustapha Baitas returned to the subject again during the press briefing following the government council held on Thursday, categorically stating that the government does not have the capacity to subsidize fuel prices.
  According to the official, "it would take 100 billion DH to carry out such an operation. This is the (…)

• Morocco Maintains Gas Cylinder Prices, Prime Minister Reassures Public
  31 October 2019, by Kamal

  The Head of Government, Saâd Eddine El Othmani, was keen to reassure Moroccans about the price of gas cylinders as well as certain basic food products.
  El Othmani’s speech before the members of the Moroccan Parliament comes to deny the rumors circulating on social networks and relayed by some national media.
  The Head of the Executive added that the Finance Bill includes a defined and calculated budget for the Compensation Fund, aimed at guaranteeing the stability of the price of the gas (…)

• Morocco’s Subsidy Bill Soars: Gas and Sugar Costs Hit 15.8 Billion Dirhams in 2019
  14 January 2020, by Sylvanus

  While the payment of the subsidy for gas and sugar products alone amounted to 15.80 billion dirhams, the arrears exceed 1.78 billion. This is indicated by the provisional data recorded at the end of December.
  The average price of butane gas was set at $466 per tonne, an increase of 4% month-on-month and 22% year-on-year, the Compensation Fund said. Despite this increase, the average butane gas prices in 2019 fell by 18% compared to 2018, the same source noted. As a result, the unit (…)

• Morocco Assures Ample Food Reserves Amid Ukraine Crisis, Government Says
  25 February 2022, by Armel

  Government spokesman Mustapha Baitas commented on the Russia-Ukraine crisis, stating that it will have no impact on the supply of the domestic market.
  At the end of the weekly cabinet meeting, Baitas commented on the situation in Ukraine and its possible repercussions on Morocco.
  The official stressed that the situation is under control in Morocco thanks to the efforts made by the government to mitigate the crisis.
  Morocco, he said, has sufficient food reserves, thanks to imports of (…)

• Morocco Maintains Subsidies on Gas, Sugar and Bread Amid Global Price Pressures
  2 November 2022, by Armel

  Despite the international situation, the Moroccan government will maintain subsidies to ensure price stability for butane gas, wheat and sugar on the domestic market in 2023.
  The price of the gas bottle will not increase next year and the state will continue to subsidize butane gas, assured the Minister of Economy and Finance, Nadia Fettah Alaoui. In a television interview, the official reacted to the social unrest linked to galloping inflation and especially to rumors that the price of (…)

• Morocco’s Prime Minister Denies Gas Price Hike Rumors, Affirms Subsidy Continuation
  24 October 2019, by Ginette

  Following publications that have circulated on social networks about an upcoming increase in the prices of gas bottles, Saad Eddine El Othmani reacted in a tweet published on October 22 in which the Head of Government states that "the information is false and has no basis".
  Saad Eddine El Othmani specifies that the 2020 Finance Bill (PLF) "contains a sufficient budget to continue subsidizing gas bottles, whether small or large".
  During a press conference dedicated to the 2020 PLF, held (…)

• Morocco’s Social Security Fund Flooded with 40,000 Coronavirus Job Loss Claims in 24 Hours
  28 March 2020, by Ginette

  Barely had the National Social Security Fund (CNSS) launched the service for receiving applications for compensation for work stoppage due to the Coronavirus pandemic, when its platform was inundated with requests. Already 40,000 employees registered in just 24 hours.
  In detail, the CNSS indicates that there are 9,262 requests from companies whose managers have counted 41,213 declared employees, among those who have lost their jobs due to the crisis currently facing the country. It has (…)

• Morocco’s Subsidy Costs Rise to 5 Billion Dirhams, Driven by Butane Gas Demand
  8 June 2020, by Bladi.net

  The overall burden of compensation for consumer subsidies stood at nearly 5.07 billion dirhams (BMDH) for the first four months of 2020, according to the latest information bulletin from the Compensation Fund. A year earlier, it stood at 4.64 BMDH during the same period.
  In detail, the cost of the butane gas subsidy reached 3.923 BMDH, up 14% compared to the end of April 2019. This is mainly due to the rise in butane gas prices in the first quarter of 2020.
  This increase in prices was (…)