Morocco to offer fuel subsidy to professional transporters to cushion price hikes
Morocco plans to re-introduce aid to help professional transporters mitigate the impact of a surge in fuel prices, in a u-turn in its subsidies policy.
The decision was taken following a meeting between transport minister Mohamed Abdeljalil, budget minister Faouzi Lekjaa and transport professionals.
Fuel is a driver of inflation and any significant surge in transport prices will be felt in the cost of goods and foodstuff.
Abdeljalil told MAP the subsidy aims at maintaining price stability and protecting the purchasing power of Moroccans.
A digital platform will be made available to transport professionals to claim the state aid which will be sent directly until normalcy is restored in the market, said Faouzi Lekjaa.
The North African Kingdom has ended fuel subsidies in 2015, in a move that was hailed by international lenders such as the IMF. But recent geopolitical tensions in the black sea sent prices skyrocketing.