The government targets a GDP growth rate of 3.7% in 2020.
Rabat – The Moroccan government council adopted the 2020 appropriation bill (PLF), along with three related project decrees yesterday October 17. The council, chaired by the Head of Government Saad Eddine El Othmani, convened a meeting in Rabat to table the decrees, according to new government spokesperson Hassan Abiaba.
The PLF targets a growth rate of 3.7% for Morocco’s Gross Domestic Product (GDP) in 2020. The government council based the objective on the assumption of a cereal harvest of 70 million quintals, an average oil price of $67 per barrel, and an average butane gas price of $350 per tonne.
The spokesperson explained that the new appropriation bill is based on four priorities.
The first priority is the implementation of the framework law on the reform of education and training systems, as a way of reducing social disparities and ensuring equal opportunities. This priority includes social support for schooling, the implementation of a plan for the development of vocational training, and the promotion of entrepreneurship.
The second priority is setting up social protection mechanisms. It aims to support the middle classes and disadvantaged social groups, notably through the extension of medical coverage and health insurance.
The third priority is speeding up the implementation of regionalization. Regionalization aims to address territorial disparities through strengthening regional resources and implementing administrative decentralization.
The final priority is giving a new dynamic to investment and supporting businesses. The objective of this priority is to create and promote financial support funds for very small to medium-sized businesses.
Abiaba also announced the budgets allocated for each priority. The implementation of the framework law on the reform of education and training systems, for instance, would require the creation of new jobs with a budget of MAD 72.4 billion.