Morocco’s Government has approved the privatization of public companies while doubling its revenues forecasts from the privatization process for next year.
The Government added a draft privatization law allowing the sale of the five-star “La Mamounia” hotel in Marrakech and the “Tahaddart” power plant specialized in generating electricity while dropping the sale of several other public companies from the privatization list. The Government approved the sale cancellation of five companies from the same list.
On the other hand, the Government raised its next year’s revenues forecasts from privatization to $1 billion after it had expected the draft budget at only $500 million, earlier this month.
The Government expects to allocate $500 million to support next year’s budget revenues, which will help in reducing the budget deficit by 3.3 percent. It will transfer $500 million to the Hassan II Fund for Economic and Social Development, under private accounts.
Source: (Al-Arabi Al-Jadeed newspaper, Edited)
