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Moroccan subsidies for cooking gas cylinders declined after the drop in gas prices on the international market this year, as the country prepared to cut gas and sugar subsidies by establishing a system targeting the poor after the liberalization of diesel prices and gasoline.
The value of the files deposited with the National Gas Compensation Fund, which was controlled and liquidated, was $ 551 million in the first half of this year, a decrease of 7% from the amount recorded. at the end of June 2018, while those for sugar amounted to 182 million. dollars
Morocco has benefited this year from a reduction in subsidies since the beginning of this year, after the price of gas on the international market was about 31% last July, compared to the price of the same period of the year. last year, reaching $ 373 per tonne last month. .
The average price of gasoline on the international market reached $ 383 per ton in December and reached $ 513 per ton in March before falling back to $ 373 in July.
The decline in international prices was reflected in the subsidies allocated to cooking gas, the barrel of 12 kg, which costs $ 4, was increased to $ 4.86 in August, against $ 5.93 for the same period from last year. Support for the 3 kg bottle went from $ 1.54 to $ 1.30.
According to official data, more than 70% of the total subsidies provided by the Government Compensation Fund come from cooking gas, which raises the question of the effect of the increase of these subsidies on future prices, given that the government is slow to make this decision.
The International Monetary Fund (IMF) has recommended Morocco to develop a unified social registry system to target poor support groups before liberalizing the prices of subsidized goods through the Compensation Fund, while the government says he would start activating the social register system before the end of the year.
Without improving the purchasing power of the middle clbad, the liberalization of the price of cooking gas would have negative effects, said Mohamed al-Rahej, expert in public finance. And not just the accounting concerns that aim to reduce the budget deficit.
Observers recall how the liberalization of diesel and gasoline prices took place, as no measures were taken to protect consumers.
Date: 2019-08-12
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