Morocco’s government announced that it would gradually start to tax sugar-intensive products to “preserve the health of citizens.”
During a presentation to parliament, Morocco’s Economy and Finance Minister Nadia Fettah Alaoui announced the measure in response to the government’s recent decision to cut taxes on some categories of imported medication, especially those used to treat chronic diseases.
While the minister did not elaborate on the decision or its time frame, she said that it “is set to take place.” Should the government move through with the decision to tax sugary products, it would result in a rise in the price of the sugary products, in an attempt to disincentive consumers.
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The minister announced the measure while introducing the content of the 2023 state budget. In the same presentation, Fettah Alaoui revealed noticeable increases to the upcoming budget for critical domestic sectors such as healthcare and education.
According to the finance minister, the education budget would increase by 10% in the fiscal year 2023 to reach MAD 69 billion ($6.2 billion) while the health and social security budget is set to increase by MAD 4.6 billion ($418 million) to MAD 28 billion ($2.5 billion).
In the same presentation, she said that the budget Morocco allocates to subsidize basic food and energy commodities is set to increase as well, triggered by the historic rise in prices amid a tumultuous global economic crisis.
SOURCE: Morocco news
