The budget declined by 50.76% compared to 2020.
Rabat – Morocco’s Ministry of Energy has allocated an investment budget of nearly MAD 63.8 million ($7.03 million) for the year 2021, Minister of Energy Aziz Rabbah has announced.
The announced budget is 50.76% lower than the investment budget for 2020, which reached MAD 129.58 million ($14.28 million).
Rabbah presented his department’s budget for next year during a session at the House of Councilors on Thursday, November 26.
The Moroccan Agency for Energy Efficiency (AMEE) transferred an investment grant worth MAD 25 million ($2.75 million) from the Ministry of Energy to the Ministry of Industry, said Rabbah, explaining the decrease in investment budget.
Approximately MAD 23.65 million ($2.61 million) was transferred from the investment budget to the operating budget to cover COVID-19-related expenditures.
Finally, a MAD 17.12 million ($1.89 million) decrease in the investment budget is due to the decline in subsidies allocated from the state budget to public institutions.
The operating budget of the Ministry of Energy also declined by 9.72% between 2020 and 2021, Rabbah announced. The 2021 operating budget of the department stands at MAD 366.7 million ($40.93 million).
Approximately 44% of the operating budget or MAD 160.7 million ($17.7 million) is allocated for wages. Meanwhile, 56% of the budget or MAD 205.9 million ($22.68 million) will cover other expenses.
The budget allocated for wages witnessed an increase of MAD 6.18 million ($680,755) compared to 2020.
The increase is mainly due to promotions among the ministry’s staff members, Rabbah explained.