Morocco Abolishes Value Added Tax on Agricultural Products

The Moroccan government approved a decree today, Thursday, to abolish the value-added tax on agricultural inputs in order to reduce prices for fresh produce and other agricultural products. Food price inflation spiked to 20.1% in February, bringing overall inflation to 10.1%, a level not seen in the country since the 1980s. Prime Minister Aziz Akhannouch stated in a statement, "This measure aligns with efforts to curb sources of inflation and rising prices for both agricultural products and agricultural food products." The country has also imposed restrictions on tomato exports to Africa and Europe to ensure the supply of the domestic market.