Head of Government Aziz Akhannouch said that the partnership agreement between the European Union and Morocco needs new momentum and mutual trust.
In an interview with French daily ‘L’Opinion’, the official stressed that the partnership between the Kingdom and Europe is “the most advanced.”
According to Akhannouch, “Europeans transferred their investments to Morocco after the COVID-19 outbreak as they searched for a close and open environment,” recalling that Morocco is the first partner of the European Union on the African continent, and that investments tripled during the past decade to reach 45 billion euros in 2021.
He added that the European Union has significantly increased its exports and direct investments in the Kingdom.
While Morocco, for its part, exported a record 8 billion dollars of agricultural and food products in 2022.
In addition, Akhannouch stressed that Morocco is mitigating the effects of the war in Ukraine, the repercussions of the health crisis, and the consequences of the drought, which is the most severe in forty years in Morocco, highlighting: “Our task is to adapt and manage expectations.”
“We must act with a double concern, which is to provide solutions for Moroccans, while ensuring our macroeconomic balances,” he said, adding that the work of the executive authority today must focus mainly on mitigating the shock wave without leaving a difficult legacy for future generations.
Akhannouch said that the current priority for Morocco is to reduce the effects of inflation for the most vulnerable groups, considering that rationalization efforts and good tax revenues made it possible to do so while reducing the public deficit to 5.3% against an initial expectation of 5.7%
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