Morocco removed subsidies on all oil products in January, having started in June 2012 to gradually implement subsidy reforms aimed at reducing the cost and fiscal risks related to fuel subsidies.

Commending Morocco for making progress in reining in spending – in particular on subsidies – and macroeconomic stabilization, the IMF, in its report on the country issued late last month, noted that many challenges remain, including reducing its budget and trade deficit, creation of jobs and tackling poverty. (CONTINUED - 247 WORDS)