The rise in the prices of certain basic products in the Kingdom is due to the general international context, said Monday in Rabat, the Minister of Economy and Finance, Nadia Fettah Alaoui.
In response to a question on “the causes of the price increase” during the oral questioning session in the House of Representatives, Nadia Fettah Alaoui pointed out that the factors that led to the rise in the prices of certain basic products in the world and Morocco, which remain cyclical, are linked to the general international context and the significant rise in energy prices, in addition to the ongoing disruptions in global supply chains and international maritime transport.
The minister said that like the rest of the world, prices have started to increase significantly since last April, after registering a negative curve during the year 2020 at the global level due to the crisis of the Covid 19, stressing that the consumer price index reached, last September, 5.4% in the United States of America and 3.4% in the euro area.
After indicating that the government is following with great interest the rise in the prices of certain basic products, the Minister affirmed that the Executive Power has placed the social sectors and the preservation of the purchasing power of citizens at the top of its priorities.
In the same vein, Nadia Fettah Alaoui indicated that the improvement experienced by the Kingdom, thanks in particular to the previous exceptional agricultural campaign and the interventions of the government in terms of control and traceability, made it possible to achieve a high price stability, except for a limited number of products imported from abroad.
Regarding local products such as vegetables, fruits and cereals, their prices have fallen for some products, she said, noting that subsidized products including flour, sugar and butane gas, have not experienced any change since the stability of these products is guaranteed through the Compensation Fund which intervenes to compensate for the difference between national prices and those on the international market.
The government, the minister continued, is making efforts to monitor and monitor market imbalances through the Interministerial Price Monitoring Commission, which plays a key role in assessing the price situation of all markets. materials, as well as market supply levels, noting that the said body meets regularly once a month and whenever necessary.
And Nadia Fettah Alaoui to specify that supply is one of the government’s priorities and this, in accordance with the High Royal Guidelines contained in the speech of October 8, 2021, on the occasion of the opening of the legislative year of Parliament, noting that the Sovereign has given His High Instructions to ensure a strategic stock of food, energy and medical products.
The Minister recalled, in this sense, that she had chaired last Friday a meeting of the said commission devoted to examining the current situation and taking appropriate measures, arguing that the interministerial commission is working on a regular basis and will intensify its work to overcome this exceptional situation by fighting against any unjustified margin for fixing prices by taking the necessary measures to ensure the preservation of the purchasing power of citizens and the activation of the High Royal Guidelines relating to strategic stock.
In order to reduce the fallout from fluctuations in world prices and speculation on domestic prices, Ms. Fettah Alaoui recalled the measures taken by the government relating in particular to the suspension of customs duties on imports of durum and soft wheat from the November 1 in order to ensure the stability of wheat prices, the allocation of additional compensations to importers in order to preserve the prices of all wheat derivatives at the national level, in addition to continuing to suspend customs duties on imports of cotton and butter and to support the prices of imported soft wheat to maintain the prices of top quality flour.
In short, the government is determined to intensify efforts to overcome this situation and emerge stronger and more solid and to meet the expectations of citizens, in accordance with the government program and in application of the High Royal Guidelines, concluded the Minister.