Minister of Economy and Finance, Nadia Fattah Alaoui, unveiled on Thursday the key highlights of the 2024 financial bill which is poised to be a significant turning point, as it marks the beginning of direct financial assistance to help disadvantaged and impoverished families.
The direct support program aims to reach 60% of Moroccan households currently without social security coverage, demonstrating a dedication to supporting underprivileged families.
The new direct support program will ensure that no family, regardless of its composition, receives less than MAD 500 in assistance. This emphasizes the commitment to provide a minimum level of financial aid.
The financial bill places a strong emphasis on bolstering the foundations of the social state, including extending mandatory health insurance to vulnerable groups and executing social protection initiatives.
The financial bill also focuses on post-quake reconstruction and rehabilitation, with measures to address temporary challenges. Funding for this program will be derived from a variety of sources, including the state budget, local authorities, and international support.
The program has a budget of MAD 120 billion over five years.
The minister said that this program would be swiftly implemented through a comprehensive approach and coordinated governance, with the involvement of the Greater Atlas Development Agency, in a contractual framework that includes all stakeholders
Additionally, extra funding will be directed to fulfill commitments related to social dialogue. Water resource management, safe drinking water, and support for agriculture are high-priority areas in the financial bill to combat inflation and enhance citizens’ purchasing power.
Reforms in healthcare, education, and access to housing are also central to the government’s vision for the social state.
The financial bill emphasizes structural reforms, judicial improvements, and legal security to support comprehensive development. It also encourages productive investments to stimulate the national economy and enhance Morocco’s position in key sectors.
The 2024 financial bill aims to ensure the sustainability of public finances through various reforms. It promises a brighter future for social welfare and economic development in Morocco by expanding support and implementing essential reforms.
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