The government reduces inflation and allocates 88 billion dirhams to protect purchasing power
The Prime Minister confirmed that the inflation rate in Morocco decreased to less than 1% by the end of 2024, down from 6.6% in 2022 and 6.1% in 2023. Aziz Akhannouch explained that his government allocated 88.2 billion dirhams between 2022 and 2024 to regulate the prices of essential goods, distributed as follows:
53.6 billion dirhams to support butane gas
17.5 billion dirhams to support sugar
16.8 billion dirhams to support national flour and soft wheat
The government also allocated exceptional support amounting to 8.6 billion dirhams for transportation sector professionals to cope with global fuel price fluctuations.
In agriculture, the financial allocation to counter the effects of drought reached 20 billion dirhams, part of which was designated to support the prices of barley, compound animal feed, and fertilizers.
The government decided to suspend the collection of import duties on certain agricultural products and live animals, while also supporting the National Office of Electricity and Water with a budget of 17 billion dirhams between 2022 and 2025.
Akhannouch considered that these measures spared Morocco a more severe price hike and contributed to easing pressure on citizens.
