The Moroccan government announced it will begin rolling out a multi-stage increase in public sector employee salaries, with the first tranche of 500 dirhams to be distributed in July 2024.
This initiative, estimated to cost 1.1 billion dirhams annually from 2023 to 2026, will benefit approximately 1.1 million employees. The minimum wage in the public sector is also expected to rise significantly, reaching 4,500 dirhams per month, a 50% increase.
Beyond wages, the government emphasizes its commitment to the “social state” concept, aiming to improve the lives of both vulnerable and middle classes. This includes expanding health coverage to over 10 million Moroccans and providing monthly support to 3.6 million families. Additionally, reforms are underway for the retirement system and job loss compensation.
The government also highlighted its efforts to support various economic sectors through subsidies for fertilizers, agricultural inputs, and consumer goods. Financing essential services like water supply remains a priority despite the financial cost. Public investment is projected to reach 335 billion dirhams this year, demonstrating the government’s commitment to growth despite substantial social spending.
Positive developments are reported in foreign investment, exceeding 16.1 billion dirhams by May 2024, a 20% increase compared to the previous year.
Reforms implemented by the government, including changes to the investment charter and business climate, are credited with attracting investment, particularly through the National Investment Committee. These approved projects have demonstrably created jobs and boosted the financial market.
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