Morocco: The government announces the reform of the clearing fund and pumping 26 billion dirhams to support the prices of sugar and flour

The Finance Bill for the year 2023 allocated a total financial appropriation estimated at 25.98 billion dirhams, to cover the cost of the clearing fund, in order to support the prices of butane gas, sugar and soft wheat flour. According to the text of the draft law, which was viewed by Rue20, these forecasts were adopted based on the cost of the current year, as the average price of butane gas approached 801 dollars per ton, and the average dollar exchange rate amounted to 9.87 dirhams, and based on the quantities offered for consumption of gas Butane, estimated at 1.86 million tons, is expected to support butane gas prices of 15.66 billion dirhams for the period from January to August 2022. As for the part related to food subsidies, represented by sugar and soft wheat flour, the text of the draft law revealed that the budget was approved taking into account the expected cost, which amounted to 11.03 billion dirhams, as the total clearing cost is expected to reach approximately ...