Finance Law 2023 in Morocco: 26 billion dirhams to subsidize butane gas, sugar, and flour

The text of the draft law stated that these forecasts were adopted based on the cost of the current year, as the average price of butane gas approached 801 countries per ton, and the average dollar exchange rate, which amounted to 9.87 dirhams, and based on the quantities offered for consumption of butane gas estimated at 1.86 million tons, The cost of supporting butane gas prices is expected to reach 15.66 billion dirhams for the period from January to August 2022. With regard to food subsidies (sugar and soft wheat flour), the budget was approved, taking into account the expected cost, which amounted to 11.03 billion dirhams. The total clearing cost will be approximately 26.699 billion dirhams for the period from January to August of 2022. The same source indicated that due to the noticeable increase in the subsidy amounts and in the cost of clearing, which could be recorded in 2022, an increase of about 72 percent compared to 2021, the government has programmed additional ...