Morocco’s government will allocate an extra MAD20bn ($2.1bn) to its 2026 budget to cushion the economic impact of the Mideast war on its population. The closure of the Strait of Hormuz since early March has disrupted global energy supplies, causing energy prices to soar and importers such as Morocco are feeling the pain.
Presenting a draft decree on additional budget appropriations before parliament’s finance committee on 18 May, Fouzi Lekjaa, Minister Delegate in charge of the Budget, said the package would include MAD8bn ($866mn) to stabilize the prices of cooking gas (butane), transport services, and electricity. (CONTINUED - 917 WORDS)
