Morocco’s King Mohammed VI Unveils $12 Billion Economic Recovery Plan Amid Pandemic

According to the French magazine, King Mohammed VI has found "precise solutions" likely to "limit the impact of the health crisis on the socio-economic health of the country". Thus, the sovereign "has undertaken to create a strategic investment fund" to "quickly" restart the economic machine. With this fund, around 120 billion dirhams will be injected into the national economy, the equivalent of 11% of GDP.

In doing so, King Mohammed VI is convinced that Morocco will be one of the "most daring" countries in terms of post-crisis economic recovery policy. For Le Point, "by making this announcement, Mohammed VI acknowledges that there is still a lot to be done". To succeed in implementing this plan, the sovereign calls for "the effective and responsible commitment of the government, social partners and economic operators in a constructive contractual framework that will be up to the challenges of the moment and the expectations of Moroccans".

A "profound reform" of the public sector is the other "strong measure" announced by the king. According to him, this reform will make it possible to "correct the structural dysfunctions of public establishments and companies, ensure optimal complementarity and consistency between their respective missions and, ultimately, enhance their economic and social efficiency".

Recalling that the sovereign "is engaged in a vast movement of transformation of Morocco", Le Point points out that Mohammed VI had announced "important social and economic reforms for more inclusion" in these last two throne speeches.