The Moroccan government presented the draft budget for 2021 in front of the two houses of parliament, where the general principles of the project-centered on accelerating the implementation of the economic recovery plan to overcome the effects of the epidemic, and making an exceptional financial effort to preserve employment opportunities, produce wealth, and support investment.
The draft budget law stipulates an increase in expenditures on the health and education sectors by 6 billion dirhams ($651.6 million). In this context, Moroccan Finance Minister Mohamed Benchaaboun explained that “the education budget will be increased by 4 billion dirhams ($434.4 million) and health by two billion dirhams ($217.2 million), noting that the education and health sectors will benefit from 3,500 new job opportunities for the fiscal year 2021."
The draft budget aims to reduce the budget deficit to 6.5 percent of the gross domestic product, compared to 7.5 percent according to the revised draft of the 2020 budget. The draft budget approves steps to support youth employment, while the total expenditures for the next year will amount to 331 billion and 456 million dirhams ($36 billion).
The Finance Bill for the year 2021 focuses on three main axes, the first of which is to accelerate the implementation of the economic recovery plan to overcome the economic effects of the pandemic, and to make an exceptional financial effort to preserve job opportunities and produce wealth, support national investment, preserve the purchasing power of citizens, support youth project financing, and integrate the unstructured sector.
Source (Al-Arab Newspaper-London, Edited)
