Morocco : Economy Minister announces pact for economic recovery and employment

Minister of Economy, Finance and Administration Reform, Mohammed Benchaâboun, announced on Tuesday the establishment of a pact for economic recovery and employment.

This pact, which will be the result of a common ambition shared by all the stakeholders (State and social and economic partners), and the program contract relating to the revival of the tourism sector will be signed this week, Benchaâboun said at a press conference on the operationalization of the royal Orientations contained in the Throne Day Speech.

In this regard, he explained that the specific sectoral measures, in particular concerning the sectors most affected by the crisis, will be the subject of contracts and agreements to be signed with the federations concerned (program contract 2020-2022 relating to the revival of the tourism sector in the post-covid-19 phase).

Benchaâboun also specified that the 120 billion dirhams that will be injected into the national economy will be distributed among credits guaranteed by the State (MAD 75 billion) and the strategic investment Fund (MAD 45 billion).

In this context, he stressed that in accordance with the provisions of article 26 of the organic law N° 130-13 relating to the finance bill, article 29 of the finance bill 2020, and article 25 of decree 2.15.426 relating to the elaboration and implementation of finance bills, a dedicated Special Allocation Account entitled Strategic Investment Fund will be created.

This decree will be presented for approval to the next government Council, the minister said, adding that the Fund intends to back production activities and provide and finance major public-private investment projects.