Morocco will find it hard to cut subsidies as long as oil prices stay high, General Affairs and Governance Minister Najib Boulif said, even as the country comes under pressure from the International Monetary Fund.
“If oil prices were to fall drastically, so would the size of the financial effort we would need to make to dismantle subsidies for fuels,” Boulif said by phone from Rabat. “As long as global commodity prices are high, the reform of the subsidy system will be difficult to implement.”
Any reform would “be gradual and stretch over three to four years,” the minister said today.
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