It took the Sovereign’s intervention to initiate a real economic recovery plan. While the corrective finance law shone through its lack of audacity, the plan announced by His Majesty King Mohammed VI in the speech addressed to the Nation on the occasion of the 21st anniversary of the Feast of the Throne, mobilizing no less than 120 billion dirhams, attaches major importance to public investment.
These billions which will be injected into the economy to revive the national productive fabric affected by the health crisis linked to Covid-19, will mainly go to investment and credits guaranteed by the State, announced Tuesday, August 4 in Rabat, the Minister of the Economy, Finance and Administrative Reform, Mohammed Benchaâboun. During a press conference devoted in particular to the distribution of 120 billion dirhams, Benchaâboun indicated that 45 billion dirhams will be devoted to investment and 75 billion will be reserved for access to financing, guaranteed by the State in benefit of all Moroccan companies including very small businesses.
In detail, the minister specified that the 45 billion dirhams are reserved for investment, in particular direct investment by the State in infrastructure projects, through public-private partnerships (PPP) and participations of the State, through a Fund which will be created for a certain number of companies, needing to increase their own funds to ensure their development.
Benchaâboun, in this sense, noted that 15 billion dirhams will be financed directly by the general state budget this year and will be injected into the Public Investment Fund, while 30 billion will be mobilized from national and international institutions. . The massive recovery plan for the national economy with a global envelope of 120 billion dirhams will be operationalized quickly, in particular through the adoption of a decree-law in the days to come at the next government council.
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