Morocco reveals partial cut of cooking gas subsidies as part of subsidy reform

(MENAFN) The Moroccan Ministry of Finance has announced a partial reduction in domestic cooking gas subsidies, effective tomorrow, Monday, as part of a broader effort to reform the country's financial support system. This announcement was made in a statement released on Sunday by the Directorate of Competition, Prices, and Clearing of the Ministry of Economy and Finance. The Moroccan government is moving forward with a plan to phase out subsidies for certain basic items, including cooking gas, while providing direct financial assistance to needy families.

The statement detailed that the subsidy reduction for butane gas bottles will commence in 2024, with a decrease of 2.5 dirhams (USD0.25) for a 3-kg bottle and 10 dirhams (USD1) for a 12-kg bottle. This move is part of the implementation of a direct social support program that had benefited 3.6 million families by last April, providing needy families with 500 dirhams (USD50) per month. The initiative aims to ensure more effective targeting of families who are most in need of support.

Additionally, the government has bolstered the support program with various social initiatives, including universal health insurance, which has benefited 4.2 million families, and a housing support program that has assisted 330,000 families over the past three years. This comprehensive approach underscores the government's commitment to enhancing the efficiency and reach of its social support mechanisms, ensuring that resources are directed towards those who need them the most.



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