HomeEconomyNadia Fettah provides an update on the measures taken by the government

Nadia Fettah provides an update on the measures taken by the government

The Minister of Economy and Finance, Nadia Fettah Alaoui, indicated that the government has approved a set of measures to deal with speculation and rising prices, and thus ensure market supply. In this context, 16 billion dirhams have been allocated as additional credits for the compensation fund, bringing the credits opened to 32 billion dirhams in 2022 and 26 billion dirhams in 2023 to maintain the stability of the prices of raw materials for base.

In response to a question from the People’s Movement (MP) group in the House of Representatives on the measures taken by the Executive to limit price increases and put an end to speculation, the Minister said that the government has also allocated direct support of nearly 5 billion dirhams to transport professionals to maintain passenger and freight transport prices.

It also maintained electricity prices at their current levels and protected consumers from any rise by supporting the National Electricity Office with 5 billion dirhams, in addition to the allocation of 9.2 billion dirhams for the implementation of the achievements of social dialogue in the public sector, as well as 9.5 billion dirhams to integrate 4 million Moroccan families benefiting from the RAMED system into compulsory health coverage, she said.

She also recalled that the government has activated the income tax reduction measures in the finance law for 2023, exempting approximately 55% of employees and 86% of retirees from this tax.

Customs duties were also suspended on imports of cereals, legumes and crude edible oils to reduce the impact of international prices on domestic prices, and customs duties and the tax on added value (VAT) on milk imports to mitigate the repercussions of price increases on the international market on the domestic prices of milk and its derivatives, further highlighted Nadia Fettah.

And to ensure that the government is aware of the need to ensure the supply of the national market with basic food products and takes several proactive measures to ensure appropriate conditions for the consumer to purchase their needs.

Measures include the activation of laws on price liberalization and competition and on consumer protection to combat speculation and monopolies that increase prices, ensure transparency in commercial transactions, guarantee the safety of products offered to sale and check their compliance with approved standards, but also ensure compliance with the sanitary conditions of their storage, transport and sale to preserve the health of citizens.

Also, the Minister reported that the current market situation is generally stable, with supply exceeding forecasted needs for most raw materials and products. Although some materials saw price increases in 2022 compared to the previous year, prices remained relatively stable at the beginning of this year compared to the end of last year, in particular for cereals, pulses , oils and other materials, she said.

She also pointed out that some products, such as durum wheat and its derivatives, have seen their prices decrease due to the drop in prices on the world market. To ensure food quality and prices, the minister pointed out that regional and local joint committees continue to closely monitor food prices and quality in different regions of the country.

In addition, the government has taken measures to compensate for the shortage of red meat offered for consumption and to limit the rise in its prices, such as stopping the collection of import VAT on domestic cows and authorization of the import of cows intended for slaughter, reminded the Minister, who also mentioned the implementation of the procedures necessary to ensure a regular supply of the markets at reasonable prices.



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