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The Special Fund for the Coronavirus Pandemic Management has collected 32 billion dirhams as of April 24, said Minister of Economy, Finance and Administration Reform Mohamed Benchaâboun.
The expenses of the Fund amount to 6.2 billion dirhams, 2 billion of which were allocated to the Ministry of Health for purchasing medical equipment and devices necessary to face the pandemic, thus allowing, up to date, the acquisition of 460 intensive care beds, 580 standard hospital beds and 410 respiratory devices, explained the minister during the oral questions session at the House of Representatives on the financial and economic measures taken to tackle the Covid-19 crisis.
«We will ensure support for the Ministry of Health with the financial means necessary for its needs according to the evolution of the epidemiological situation in our country», he underlined, noting that this fund will also provide the necessary support to national economy in order to absorb the negative shocks caused by the pandemic, in relation to the reduction or interruption of activity in some sectors and the loss of jobs.
Benchaâboun noted that measures have been examined by the Economic Monitoring Committee created by the government, based on a proactive monitoring system.
For employees in the formal sector, the Minister recalled the granting of a net monthly allowance of 2,000 dirhams, for the period from March 15 to June 30, 2020, in addition to family allowances and health insurance (AMO) benefits, for the benefit of employees registered with the national welfare system (CNSS), who have been temporarily furloughed, belonging to companies affiliated with the CNSS, which are in difficulty because of the pandemic. Those employees will also be able to benefit from a moratorium on the repayment of bank loans, namely consumer and housing loans, until June 30, 2020.
In accordance with the figures obtained following declarations formalized on the CNSS portal to benefit from the compensation granted to its impacted members, 132,000 companies out of the 216,000 affiliated to the CNSS revealed that they had been affected by the pandemic and declared that more than 800,000 employees are temporarily furloughed. Thus, the Covid-19 fund will mobilize nearly two billion dirhams on a monthly basis for this purpose, the minister explained.
In order to provide the financial means necessary to face the coronavirus pandemic from a health perspective and reduce its effects on companies on the national soil and on the purchasing power of Moroccan households that are currently out of the workplace because of this crisis, King Mohammed VI launched a Special Fund to tackle the pandemic in Morocco and manage its impact.
