Rabat – Morocco’s government announced today, March 16, plans to distribute subsidies for transit professionals through a digital platform, in an effort to mitigate the effect of rising fuel prices.
In collaboration with Al Barid Bank banking group, Morocco’s finance ministry is launching a digital platform to manage the direct distribution of fuel subsidies for transit professionals operating in transporting goods, including trucks. The government will allocate subsidies based on the average load of the vehicles, according to local news reports.
The government will also allocate fuel subsidies for transit professionals working in public transportation following a specific scale for amounts distributed.
Data collected from Morocco’s Interior Ministry and Morocco’s National Tax Directorate will serve as a reference point for the government for allocating subsidies on a monthly basis.
The new details were announced following a meeting between Morocco’s Transport Minister, Mohamed Abdeljalil, Deputy Minister in charge of the state budget, Fouzi Lekjaa, and Government Spokesperson, Mustapha Baitas. The meeting took place in the Finance Ministry’s headquarters in Rabat.
The measure is part of the government’s numerous efforts to preserve national consumer purchasing powers amid international supply restrictions and the Ukraine war. The current global situation has sent oil prices to historical record-high levels, exceeding the $100 threshold last week.
Morocco’s move to subsidize fuel will also curb rising food prices, as rising fuel prices correlate with rising food prices.
In light of the recent development, Morocco’s government also moved to limit tomato exports to the European Union. This limit aims to curb the rise in tomato prices that coincides with leading up to Ramadan when demand for tomatoes peaks in Morocco.
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