Minister Delegate in Charge of the Budget Faouzi Lekjaa revealed that much of the newly announced MAD 12 billion to the state budget, will be allocated to support government institutions to maintain public service prices.
During a presentation to the Finance and Economic Development Committee of the House of Representatives on Tuesday, Lekjaa stated that MAD 5 billion will be allocated to support the National Office of Electricity and Drinking Water, to maintain prices and ensure affordability for citizens.
The minister indicated that a number of the national office’s contractors have not been paid their dues, which necessitated allocating this support to the office, adding that the cost of the raw materials it imports doubled from MAD 20 billion to MAD 40 billion.
Morocco’s flagship carrier Royal Air Maroc will also be allocated MAD 2 billion in government support, whose financial situation has been negatively affected by the pandemic and the rise in fuel prices.
Lekjaa revealed that the government decided to allocate MAD 2 billion to address the problem of financial sustainability of the Moroccan Pension Fund, pending the adoption of the comprehensive reform in coordination with the social partners.
The government also decided to allocate MAD 2 billion to disburse late promotions to professors, while MAD 1 billion were allocated for emergency and urgent expenses.
The Government Council approved the budget increase in its October 06 meeting, in light of ongoing domestic inflation and rise of prices internationally.
The project is “taking into account the turbulent international context as a result of the continuing repercussions of the COVID-19 pandemic, and the rise in prices, and given the urgent need to take the necessary and urgent measures to confront this situation and limit its impact on state institutions.”
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