Despite Morocco’s “significant” progress made in terms of infrastructure, this was not reflected in attracting investments, says the Moroccan Minister of Equipment and Water, Nizar Baraka.
The official detailed his ministry’s budgetary draft plan during a presentation before the Infrastructure, Energy and Minerals Committee of the House of Representatives this Tuesday, November 2.
The minister revealed to the committee that despite significant investments in infrastructure and equipment, economic profitability decreased by 50%.
According to Baraka, this decline is due to “the private sector’s failure to keep up with the government’s investment efforts,” adding that the private sector’s contributions did not exceed 17% of the GDP.
To improve profitability, the newly appointed minister aims to “accompany, strengthen and support the private sector,” in hopes to see results reflect on job creation, the emergence of new investment opportunities, and additional financial adding value for Morocco.
Baraka said his ministry intends on “continuing the previous administration’s pending projects” to improve Moroccans’ access to drinking water and electricity, through the creation of regional action plans.
In terms of the ministry’s draft budget, Nizar Baraka announced an allocated MAD 1.35 billion for the construction of a number of highways, in addition to a MAD 1,250 million contribution for the government’s program focused on reducing territorial and social disparities in rural areas.
The draft budget includes a MAD 250 million budget, allocated to expropriation and compensation fees, for surface damages to landowners.
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