Moroccan Economy Faces Steep Recovery Amid Tax Revenue Plunge, Minister Says

After having the Amending Finance Act 2020 adopted by a majority, Mohammed Benchaâboun hopes to have the same enthusiasm around the general framework for the preparation of the 2021 Finance Bill. During his presentation, the minister reviewed the main indicators recorded during this crisis, indicating that tax revenues have experienced a huge drop that should continue for a few more months. He also reported an acceleration "of bank loans, due to an increase in loans granted to non-financial companies".

But he assured that "the national economy will begin its recovery during this second half of the year. It should fully recover during the year 2022, like other world economies". Regarding foreign trade, Mohammed Benchaâboun stressed that "the trade deficit has recorded a 13% drop" during the first half of the current year. As for travel receipts, they should decline by "nearly 29% after good results recorded during the first two months of the year", the same source said.