Morocco Budget Cuts Subsidies

Pursuing its declared policy of reducing the cost of state subsidies, Morocco has announced that its 2015 draft budget will see a 34% cut in subsidies to MD23bn ($2.7bn) from MD35bn in 2014 and MD42bn in 2013.

Having peaked in 2012, Morocco began reducing subsidies shortly after, representing around 4.7% of GDP in 2013 (MEES, 21 March). But while the government has ended subsidies for gasoline and fuel oil, it is still providing subsidies for...