The Moroccan economy is doing poorly. The Covid-19 pandemic has impacted all sectors, forcing the state to scale back its ambitions. This is what the Head of Government is inviting the various ministerial departments to do in the preparation of their proposals for the 2021 Finance Bill.
The execution of the budgets of local authorities shows a surplus of 3.7 billion dirhams (MMDH) in the first half of 2020 compared to 6.3 MMDH in the same period in 2019. The General Treasury of the Kingdom (TGR) published this in its monthly bulletin of local finance statistics for June 2020.
The economic recovery would involve accelerating the budget deficit. This is at least what Bank Al-Maghrib (BAM) seems to be proposing through the implementation of measures deemed beneficial.
Except for the ministries of the Interior, Education, and Health, no other department is allowed to create budgetary positions in 2021. In conveying this information to the ministers, the head of government explained that the repercussions of the pandemic have required the programming of a three-year austerity budget.
The situation of Treasury charges and resources shows a budget surplus of 6.3 billion dirhams at the end of March 2020, compared to a budget deficit of 4.5 billion dirhams last year. This is the announcement made by the General Treasury of the Kingdom (TGR).
The Minister of Finance reiterated the government’s commitment to review spending, despite the unforeseen events. This emerges from the intervention of the Minister of Economy, Finance and Public Administration Reform, Mohamed Benchaâboun, before the members of the permanent parliamentary committee in the House of Representatives responsible for finance and economic development.
Faced with the coronavirus pandemic that is hitting Morocco hard, the Council of Government will meet on Monday, April 6, 2020 in Rabat to adopt budget cuts.
To cope with the economic consequences of COVID-19, the Moroccan state will cut spending and borrow in foreign currency.
Since 2000, a new policy of management and development of places of worship has been implemented in Morocco. In this sense, an action plan and a budget have been adopted for the period 2017-2021.
The Rabat city council, with a PJD majority, was unable to provide the city with a budget for 2020. The cause is internal conflicts between members of the office and some opposition councilors, in particular from the Authenticity and Modernity Party (PAM).
Abdelouafi Laftit , Minister of the Interior, is angry with certain parliamentarians who never miss an opportunity to accuse state officials of corruption. The remarks they made during the discussion around the budget of his department in the House of Councillors were the last straw.
"Ba1 stable", this is the rating that the rating agency Moody’s assigned on Wednesday, November 20, to Morocco’s international euro-denominated borrowing. This borrowing will be launched in the coming days.