Agadir – Morocco can expect “rapid return” of growth, according to a recent article published by Jeune Africa, a French-language pan-African weekly news magazine.
The article, titled “Morocco: the return of the protective state?” follows the consequences of the pandemic, as well as the Moroccan government’s response to the crisis. It explored the economic measures of the government, saying that their effectiveness left many Moroccans “surprised to see the reappearance of a protective, agile, efficient state.”
Fadwa Isla, the author of the article, argued that Morocco can expect a “rapid return” of growth at a rate of 4.9% for 2021, as well as the reduction of the budget deficit from 7.5% to 6.5%. This will be supported by the new development model initiated by the government, as well as the various reforms that will follow.
She also noted that “Morocco has entered the top 10 countries which have made the greatest effort (in relation to the wealth produced) to support its productive fabric” by setting aside 12% of its GDP to aid the economy. The country’s recovery plan amounts to over MAD 120 billion ($13.5 billion), and the funds will notably be used to help the companies that were weakened by the pandemic.
Both in terms of healthcare and the economy, Isla explained, “Morocco has… been very responsive.” She went on to applaud the major transfer of wealth that followed the appearance of COVID-19 in Morocco, arguing that the country’s cautious response to the pandemic has paid off.
Isla also pointed to Morocco’s Special Fund for the management of the COVID-19 pandemic, which mobilized more than MAD 30 billion ($3.4 billion) as a model response to the health crisis. This was the largest money transfer initiative in Morocco’s history, distributing monthly income to five million families.
In terms of emergency manufacturing, the article lauded the speed at which Morocco adapted its industrial facilities when faced by a shortage of masks, hydroalcoholic gel, and other personal protection equipment. And now that the pandemic has been brought under relative control, it added, Morocco has turned to exporting the locally produced equipment to countries such as France, United States, and Saudi Arabia.
Throughout the article, Isla maintained a hopeful tone, touching upon the change of people’s attitude towards the government, concluding that while “this crisis has revealed weaknesses, it has also given rise to a lot of hope.”