Moroccan Government expects 3.2% growth next year

The Moroccan government has laid out the priorities for the upcoming fiscal year predicting the economy to grow 3.2%.

In a document outlining the breadlines of the upcoming budget, the government stressed the need to continue the large-scale reforms launched by Morocco in the wake of the pandemic, notably social reforms, public sector institutions upgrade and the stimulus package.

Special attention was attached to social reforms as Morocco prepares to generalize mandatory health insurance which would require at a first stage 8.4 billion dirhams to be funded by the government.

The document also stressed the importance of the Intelaka program which was launched to encourage youth entrepreneurship and facilitate access to loans for SMEs.

The government also highlighted the need to continue reforms to improve the business climate and attract more investments.

Tax equity was also on the agenda after Morocco passed a law that aims at launching a fair tax system and fighting corruption and tax evasion.

These priorities will have to be included in the draft budget that the upcoming government will submit to parliament after September elections.