Agadir – Morocco’s public portfolio has recorded significant growth, with investment volumes rising by 98%, Economy and Finance Minister Nadia Fettah told the country’s House of Councillors on Tuesday.
Addressing reform of public institutions and enterprises (PIEs), Fettah said the public portfolio has achieved “concrete and measurable” results as Morocco advances a broad reform agenda aimed at improving governance, efficiency, and economic impact.
The minister reported that the turnover of public institutions and enterprises increased by 40% over the period, while net profits climbed from MAD 16.4 billion to MAD 26.6 billion after setbacks experienced in 2022.
Transfers from public entities to the state budget also rose by 54%, Fettah explained, saying this reflected Moroccan public enterprises’ increasingly stronger capacity to create value and contribute to public finances.
Public institutions drivers the development
Fettah argued that public institutions remain essential to implementing state policies and delivering strategic infrastructure and services.
She said: “Whenever the issue of reforming public institutions and state-owned enterprises is raised, a legitimate question frequently emerges: Why do we have such a large number of public institutions and enterprises?”
The minister further stressed that these entities play a central role in financing economic development, supporting businesses, and ensuring access to key public services.
“Who would finance or provide guarantees to small and medium-sized enterprises when they struggle to access funding? Who would invest in the dams that ensure the Kingdom’s water security? Who would build ports, highways, and railway lines?” she asked.
For her, public institutions are “not merely administrative structures” but tools through which the state implements public policies, translates royal directives into projects, and provides services to citizens.
Morocco’s shift toward a ‘State Shareholder’ model
The minister highlighted Morocco’s adoption of a State Ownership Policy that treats public institutions and enterprises as an integrated strategic portfolio rather than a collection of separate entities.
A key element of this transformation has been the establishment of the National Agency for the Strategic Management of State Holdings and Monitoring the Performance of Public Establishments and Enterprises.
“We have gradually moved from managing each institution separately to a model of a State shareholder, which defines strategic objectives, measures results, and monitors performance,” Fettah said.
She added that the portfolio’s growth is not only reflected in financial indicators but also in a new management approach focused on investment, value creation, and sustainable financing mechanisms that do not rely on state guarantees.
