Moroccan Prime Minister Saad Eddin El Othmani expects economic growth to reach 5.4 percent next year, after an expected contraction of 5 percent, betting on controlling operating expenses and continuing the investment effort. In the preliminary memorandum specifying the preparation of the finance bill for the next year, the prime minister built the expectation of economic growth on the price of gas on the international market in the range of $ 350 per ton and the average grain yield in the range of 7 million quintals. It identified the priorities set by the memorandum in laying the foundations for economic take-off and employment, universal social coverage for the population within five years, reform of the public sector and rationalizing management.
The memorandum evokes the recently announced economic recovery plan, as it was decided to pump $ 12 billion, of which $ 4.5 billion was for a strategic investment fund and $ 7.5 billion in bank loans guaranteed by the state. The memorandum calls for the necessity of making an effort in the field of health and education, while preserving the state's investments and reducing its expenditures.
The Prime Minister urged the ministers to rationalize operating expenses and redirect human resources. He also stressed energy efficiency, renewable energies, rationalization of communications, transportation, rent, and vehicle purchases, and reducing expenditures for studies. The government sought to amend the Finance Law after the pandemic to support the economic take-off through public investment that is made through the budget in a context characterized by a review of the assumptions of the Finance Law, as economic growth is expected to shrink to minus 5 percent this year, while the budget deficit is expected to worsen in order to jump to 7.5 percent of GDP.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
