Morocco’s Subsidy Costs Soar 16 Billion Dirhams Above Budget as Global Prices Surge

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 this increase, the minister cited the subsidization of several basic products such as sugar and gas, to cope with the rise in international prices, particularly due to the war in Ukraine.