Morocco’s Public Investment Soars to Record 300 Billion Dirhams in 2023

In its annual report for 2023, the Council justifies this increase by "the launch of several major public projects mainly related to the organization of continental or global sporting events, or to national or regional development plans", stressing the need "to align public investment with the strategic objectives defined at the national level in this area" in order to "increase the share of private investment to two-thirds of total investment by 2035".

The report, presented to King Mohammed VI, states that "the momentum of domestic and foreign investments in 2023 aimed to make up for the deficit recorded in 2022 and to contribute better to growth by mobilizing productive investments promoting growth and job creation", the objective being "to double the share of private investments in total investments to two-thirds" through "strengthening the momentum of investments based on domestic or foreign private capital".

The Council also notes "a relative rebound in the volume of domestic investment compared to the level recorded in 2022", reaching "367 billion dirhams against 363 billion dirhams in 2022, an increase of 1.3%", also specifying that private investment, for its part, "faces significant structural obstacles, particularly with regard to access to financing and the availability of land".

The report mentions in this regard the "provisions of the new investment pact, which proposes to correct these imbalances by allowing very small, small and medium-sized enterprises to access incentives on an equal footing, and by facilitating investors’ access to affordable land offers", recalling that the momentum of public investment "responds to the general objective of improving the business climate, particularly with regard to the simplification of procedures".

"This reform has taken a new step with the launch of the Mohammed VI Fund for Investment" and whose 2023-2025 action plan "provides for a total envelope of 120 billion dirhams for the realization of productive and sustainable investments". The document also highlights the adoption of several legislative texts, "including the establishment of governance and financial control mechanisms for the State over public institutions and enterprises".