Rabat – Morocco’s government announced the expansion of the 2022 budget by MAD 12 billion ($1.1 billion).
Morocco’s government spokesperson Mustapha Baitas announced the news on October 6 during a press conference following the weekly cabinet meeting which saw the approval of a draft decree on the budget extension.
Baitas conveyed the government’s reasons for the decision, citing the “international context” due to repercussions from COVID-19 as well as skyrocketing prices of food and fuel.
The adopted decree, according to the government, comes as part of the “necessary” measures to tackle the situation and mitigate the impacts of the crises.
Morocco’s constitution stipulates that the government can resort to an additional budget in the case of an “urgent necessity.”
The extension of the budget comes in the midst of an economic crisis weighing down low and average-income householders.
The skyrocketing prices of fuel have been of particular concern to Moroccans, as they have been ranging between MAD 14 and MAD 15 across the country.
The situation prompted concern and uproar. Throughout the past three months, several hashtag campaigns swept social networks, where citizens took refuge to discuss their worsening socio-economic conditions.
One of the most viral hashtags has been #Degage_Akhannouch (Akhannouch leave) urging Head of Government Aziz Akhannouch to resign.
Citizens also shared #Essense_MAD8DH and #Diesel_MAD7dh, demanding lower fuel prices.
Morocco’s market watchdog, the Competition Council issued a report last month, acknowledging deficiencies in the fuel market.
The council’s report cited extortionate practices, and a lack of political will to implement market reforms, which “may be to blame” for the skyrocketing gas prices.
The rise has also been attributed to a global skyrocketing of fuel prices, partly due to decreased production and the Russia-Ukraine conflict.
The government promised in a previous notice that it will combat rising fuel prices. A few days ago, prices of fuel dropped by MAD 1 before jumping to MAD 14 a day later.
