Morocco’s Economy Minister Urges Businesses to Resume Operations After Eid

Only companies that had not been subject to administrative measures decided by the public authorities are concerned by this call to resume activity, specifies the minister. Taking advantage of his appearance before the House of Advisors, Mohamed Benchaâboun took stock of the revenues and expenditures of the special fund to fight against the coronavirus.

He said that the revenues of this fund amounted to 32.7 billion dirhams as of Monday, May 18. As for the expenditures, more than 2.2 billion have been allocated to the health sector. The Economic Monitoring Committee (CVE) spent an amount of 11.5 billion dirhams as part of the measures taken for the benefit of companies and employees.

According to the minister, the cost of the covid-19 crisis amounts to one billion dirhams per day. This is explained by the drop in exports during the first 4 months of this year (-61%), the drop in tourism revenues (-60% in April) and the remittances of Moroccans living abroad which fell by around 30% for the month of April alone, said Mohamed Benchaâboun.