Morocco to start distributing aid to needy families before end of 2023

Morocco will start offering direct financial aid to poor families before the end of the year as part of a program to foster social safety nets, head of the Moroccan government Aziz Akhannouch said.

Speaking at the first cabinet meeting after the summer break, Akhannouch said the government would distribute the aid on the basis of the social register which identified the targeted group of needy households.

He said the government attaches priority to promoting social protection in line with royal directives.

He also said the government would focus on addressing water stress challenges, promoting private investments, and putting forward a competitive hydrogen offer.

Fostering the resilience of public finances, by strengthening macroeconomic balances, is a priority for the government, he said.

Support for the purchasing power of citizens- notably by acting on upstream factors affecting food prices- has helped lower inflation to 4.8% in July from 10.10 in February.

The government, in a note on the 2024 budget, expects inflation to continue decelerating to 3.4% in 2024 and 2% in 2025.

The government also plans to narrow the budget deficit to 4% next year from 4.5% this year as it also expects a growth rate of 3.7% in 2024 from 3.4% this year.