The Moroccan Ministry of General Affairs and Governance announced this week that Morocco has officially retreated from subsidizing petroleum products.
While answering a question at the Moroccan parliament, General Affairs and Governance Minister Louafa said that “petroleum products will no longer be subsidized from the Compensation Fund by the end of November.”
Oil products used to be subsidized from the Compensation Fund, which is Caisse aimed in the first place at subsiding relatively-expensive basic food products to allow poor people afford them.
The Moroccan government affirmed that poor Moroccans benefited the least from the said subsidizing as it understood, thanks to having conducted various studies, that it was mainly the different factories across the kingdom, in addition to the rich and middle-classes that were benefiting the most from the Compensation Fund.
The Moroccan Times.
