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An Evaluation of the 2014 Subsidy Reforms in Morocco and a Simulation of Further Reforms

FUEL SUBSIDIES LIQUID FUEL RETAIL PRICE CANE OIL PRICE PRICE STABILIZATION PRICE INCREASES STOCK INCOME INTEREST ACTIVITIES AVERAGE PRICES GENERATION EXCHANGE COLLECTION SYSTEM ENERGY SOURCE INDEXATION DOMESTIC MARKET TREND ELASTICITY POLITICAL ECONOMY GASOLINE LIQUID FUELS COAL COMPANY PRICING DOMESTIC PRICE GAS SUBSIDY PRICE TAX SOCIAL COST RAW SUGAR AIR INFLATION TRANSPORT SERVICES SELLING PRICE RETAIL OILS PRICE STRUCTURE OIL PRICES PETROLEUM SAVINGS COSTS OIL TRANSPORT PUBLIC FUNDS PRODUCTION OF ELECTRICITY SURPLUS PRODUCTS WATER MARKETS FUEL PRODUCTS OIL IMPORTS TRUE SOCIAL PROTECTION COMMERCIAL TRANSPORT PRODUCT INVENTORIES INVENTORY FUELS SUBSIDIES COMMODITY PRICE LIBERALIZATION FREIGHT COSTS TAXES FISCAL DEFICIT EXPENDITURE PRICE OF DIESEL PRICING MECHANISM DEREGULATION ELECTRIC ENERGY SURPLUSES TRANSPORTATION GOVERNMENT BUDGET POLICIES WHOLESALE PRICES BALANCE FINANCIAL CRISIS FUTURE UTILITIES VALUE COMPETITIVENESS ELECTRICITY CEMENT PRICE OF OIL DEMAND TRANSPORT PROVISION CONSUMER PRICE PRICE CHANGES EXPENDITURES PETROLEUM GAS ELECTRICITY TARIFFS PRICE ADJUSTMENT SALE AVERAGE PRICE OIL REFINING SHARES MARKET RETAIL PRICES PRICE INCREASE PETROLEUM SECTOR OUTPUT PRICE MOVEMENTS COST OF TRANSPORTATION ELECTRICITY PRICES TRADE MARITIME TRANSPORT AIR TRANSPORT DOMESTIC PRICES PRICE DIFFERENTIAL INTERNATIONAL MARKET GENERATION OF ELECTRICITY INVESTMENT FUEL PRICE SHARE COAL TARIFF FUEL COMPETITIVE PRICES CRUDE OIL BORDER PRICES FUEL OIL INVESTMENTS CONSUMER PRICES COMMODITIES TAXES ON GASOLINE DEMOGRAPHIC PETROLEUM PRODUCTS ELECTRICITY PRODUCTION DIESEL BORDER PRICE KEROSENE EVAPORATION COMMODITY PRICE SUBSIDY FREIGHT PRICES ENERGY INCOME GROUPS STORAGE COMPETITION
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World Bank Group, Washington, DC
Middle East and North Africa | Morocco
2015-04-02T18:27:47Z | 2015-04-02T18:27:47Z | 2015-03

Under increasing budget pressure, Morocco carried out an extensive set of subsidy reforms in 2014 and is planning for further reforms for 2015–2017, which will eliminate most consumers' subsidies. This paper evaluates (ex post) the 2014 reforms and simulates (ex ante) the impact on household welfare, poverty, and the government budget of the total elimination of subsidies. The paper considers food and energy subsidies and estimates direct and indirect effects using SUBSIM, a subsidies simulation model designed by the World Bank. It finds that the 2014 reforms have been a good mix of reforms from a distributional, welfare, poverty, and government budget perspectives. They are perhaps the most rational reforms undertaken in the Middle East and North Africa region in recent years. The analysis also finds further reforms costly for the poor and more complex from a political economy perspective, especially for liquefied petroleum gas.

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