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A statement by Spanish Prime Minister Pedro Sanchez during his recent visit to Morocco has generated confusion and controversy. Speaking during a press conference in Rabat on Wednesday, Sanchez mentioned a figure of 45 billion euros in investments in Morocco, which was interpreted by some as a direct Spanish investment.
However, the Spanish government has clarified that the figure refers to Moroccan investments, not Spanish ones, El Independiente wrote on Thursday. The investments involve contracts that Spanish companies can bid for, but they do not represent a direct financial outlay by Spain, it added quoting Spanish government sources.
The confusion arose after Sanchez highlighted the growth in trade and investment between the two countries, mentioning that in 2022, trade exceeded 20 billion euros.
Sanchez then added: «In addition to this very positive development, Spain is positioned as a reference investor in Morocco, with planned public investments of around 45 billion euros until 2050».
Quien va a invertir 45.000 millones en sus infraestructuras es Marruecos, y quien opta a esos contratos son nuestras empresas. A eso fue Sánchez a Marruecos. Puntual 24 h mintiendo, cada uno de los minutos de esas 24h. https://t.co/lVkrzhQ36D pic.twitter.com/L4le1JFEou
— Oscar Puente (@oscar_puente_) February 22, 2024
This statement was interpreted by some as a commitment by Spain to invest 45 billion euros in Morocco. However, according to the Spanish newspaper, Spanish government sources have clarified that this is not the case.
The 45 billion euros figure actually refers to Moroccan investments that were discussed at the High-Level Meeting between Spain and Morocco held in Rabat last year. These investments are part of Morocco's plan to modernize its economy and infrastructure by 2050.
«It's Morocco that's investing 45 billion euros in its own infrastructure, and our companies are the ones competing for those contracts. That's why Sanchez went to Morocco», Spanish Minister of Transport and Sustainable Mobility Oscar Puente wrote on Thursday on X.
During his February 21st visit to Morocco, Sanchez met King Mohammed VI. This marks the Spanish Prime Minister’s fifth visit to Morocco since assuming office in 2018.
