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Monday, July 15, 2024

Government Has Opted for Supporting Compensation Fund in 2022

The government has opted, during 2022, for the support of the Compensation Fund, said Thursday in Rabat, the Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, Fouzi Lekjaa.

Lekjaa, who responded to MPs’ interventions on the 2023 Finance Bill in the House of Representatives, said that the executive has chosen to subsidize energy and basic consumption products, which has led to increased spending of the Compensation Fund.

In this regard, he said that wheat subsidies have been increased by MAD 10 billion, while support for public transport has reached MAD 540 million per month, noting that total expenditure is around MAD 40 billion.

Lekjaa also noted that Morocco is in a situation, like all countries in the world, marked by strong inflationary pressures which has led the government to act to preserve the purchasing power of citizens.

On another register, Lekjaa noted that electricity production has increased by 75%, specifying that there would be no increase in electricity charges for citizens which will require the support of the establishment responsible for the distribution of water and electricity.

Regarding the social dialogue, he stressed that it has cost the government for a year nearly MAD 9.19 billion, stating, in this sense, that all outstanding issues have been addressed.

In addition, the Minister said that MAD 20 billion have been devoted to families, which coincides with the effective launch of the unified social register, praising in this sense the efforts made by the Ministry of Interior in this direction.

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