Morocco to boost staples subsidies "at any price"

[Joanne98]

Source: Reuters

RABAT, Jan 25 (Reuters) - Morocco, which heavily subsidises food and gas, on Tuesday promised to keep staples affordable at any price even if a surge in global prices of food and oil have a severe impact on its public finances this year.

Arab countries Algeria, Egypt and Yemen are confronting a wave of street protests inspired by a revolt that toppled Tunisia's president earlier this month.

"Prices of subsidised goods that are fuels, gas, flour, sugar, etcetra, are witnessing a sharp increase in international markets and this weighs heavily on the Compensation Fund funded from tax payers' money," said Communications Minister and government spokesman Khalid Naciri. Continued...



Read more: http://af.reuters.com/article/commoditiesNews/idAFLDE70O1X520110125

[Vidar]

1. Good to know somebody cares about their people.

[Ghost Dog]

2. The King appears to be doing what, you know, Kings are supposed to do.

The final line of the Reuters article: "Analysts say Morocco's subsidies system could be enhanced by making sure it benefits those who need it most," is nice. In other words: Cut the cronyism and the corruption.

Same story everywhere, it seems.