Morocco mulls subsidies to halt food price inflation

2008-03-27

The Moroccan government will take measures to halt the rise of staple food prices, regardless of global market prices, Prime Minister Abbas El Fassi said on Wednesday (March 26th). El Fassi added that the government would likely subsidise basic consumer goods out of the Compensation Fund that is expected to grow to approximately $4 billion by the end of the year. The move aims to address concerns about dwindling purchasing power. Rising food prices and an increasing cost of living have triggered a series of demonstrations throughout the country since September 2007. In February the public sector trade union representing approximately 150,000 civil servants threatened a 24-hour nationwide strike to demand compensation against inflation.

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