The Arab Monetary Fund said that the expected economic growth in Morocco by the end of 2022 will not exceed 1%, after last year’s revival that reached 7.9%.
In its “Arab Economic Prospects” report issued on Wednesday, the fund stated that the production of the main cereal crops will not exceed 32 million quintals, which will result in a decrease in the agricultural added value.
The report’s forecasts indicate that growth next year will reach 4%, assuming an average grain crop of 75 million quintals, with an increase in the agricultural added value.
The report stated that Morocco decided to continue adopting a number of measures and interventions to support economic recovery, as the Mohammed VI Investment Fund was created to finance major investment projects and develop them in partnership with the private sector.
The document also indicated that Morocco is counting on reforming social protection programs over a period of five years, through the generalization of compulsory basic health insurance, the expansion of the base of beneficiaries of retirement pensions, and compensation for job loss.
The measures include targeting unemployment through the Awrach program to integrate nearly 250,000 people into the labor market during 2022 and 2023, with a budget estimated at 2.25 billion dirhams.
Morocco also intends to continue working with the “Forsa” program to finance pioneering, social, environmental, cultural and sports projects with loans of up to 100,000 dirhams, to be repaid over ten years.
The industrial recovery plan (2021-2023) aims to modernize the industrial sectors and enhance their integration by replacing approximately 34 billion dirhams of imports with local production by 2023.
The report talked about a plan to revive the tourism sector by securing the largest number of flights with airlines, and launching broad promotional campaigns in international markets; As well as establishing international partnerships in the field of tourism.
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