Government spokesman Mustapha Baitas confirmed that the state backed Forsa program is now supporting 10,000 project holders.
Launched shortly after the 2021 legislative elections, the program had approved 11,000 applications, as 40,000 projects were studied, and more than 20,000 were chosen after the selection phase.
In response to journalists’ questions after the work of the government council held on Thursday, the minister added that 15,000 Forsa beneficiaries have completed distance learning courses.
Current funds at 7 national credit institutions exceed the amount required for 10,000 applications.
Baitas stressed that the implementation pace is good for most projects, with many beneficiaries having signed contracts for loan grants, which will be financed before the end of December.
Regarding public finances, Baitas assured that they have gradually improved given recent macroeconomic indicators, explaining that the deficit ratio for 2022 will reach 5.3, and the goal is to control it in the coming years.
With regard to currency imports, Baitas said that the tourism revival reflected positively on hard currencies coming to Morocco.
In addition to the contribution of Moroccans living abroad’s contribution, expectations indicate that currency influx will rise more in the coming years and maintain a level of coverage of up to six months.
The government official attributed the “good control over public finances” to “the rational support that has been granted to a range of sectors,” noting that this will enable the benefit of the IMF’s credit line, and that its use will be important to activate the state’s social projects.
Faced with rising prices, Baitas said the government has taken several measures, including support for transport professionals, dialogue with unions, doubling product subsidies, and support to the agriculture sector.
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