COVID-19 special fund posts a positive balance of 3.5 bln DH by End of February (Ministry)

The Special Fund for the Management of the Coronavirus Pandemic (COVID-19) has a positive balance of nearly 3.5 billion dirhams, according to the ministry of Economy & Finance.

“This account has the necessary funds to acquire the vaccines and to honor all the financial commitments of the State which fall within its field of intervention”, the ministry underlines in a press release.

The ministry’s clarification came to debunk some press reports claiming the Special fund for the management of COVID-19 was posting a negative balance of 1.8 billion DH, after the purchase of COVID-19 vaccines worth 1.7 billion dirhams.

The ministry rejects the allegations of these press reports which are based on an erroneous interpretation of the data published in the February monthly bulletin of public finance statistics.

Actually, the figures published in the bulletin concern the management balance and do not take into account the balance carried over from the year 2020, the ministry explained.

The special fund for the management of the Coronavirus pandemic was set up on March 15, 2020 at the initiative of King Mohammed VI, to fund health system acquisitions and offset the social and economic repercussions of the coronavirus pandemic.