King of Morocco, Mohammed VI addressed the nation on the occasion of Feast of the Throne celebration in the year that marks the twenty-first anniversary of his appointment as Alaouite monarch
The issue of the coronavirus was expected to dominate the words of the Alaouite monarch during this event and it did.
” I would like to convey my thanks and consideration to the various public authorities for having fulfilled their duty in the best possible way, in order to stop the spread of this pandemic,” added the Moroccan monarch, who wanted to acknowledge the work done by different public servants in the country’’.
Mohammed VI outlined several of the measures taken by the North African state to deal with the difficult situation now caused by the spread of the coronavirus, aimed at alleviating the “negative effects generated by this crisis, not only with regard to health, but also in the areas of economy and society”.
“Its repercussions reached the different sectors of production, deeply affecting the income of families and also the state budget. That is why we created a special fund to deal with the health, economic and social consequences of this pandemic. We were very pleased to see that this initiative was received with spontaneous enthusiasm and permanent solidarity. This has made it possible to mobilize 33.7 billion dirhams. In this context, total expenditure has so far reached 24.65 billion dirhams, which has been allocated to financing social support measures and the purchase of necessary medical supplies. In addition, 5 billion dirhams will be allocated to the Central Guarantee Fund (CGC) as part of the revival of the economy,” said Mohammed VI.
“We have guided the government to support the resilience of the affected sectors, preserving jobs and the purchasing power of households that have lost their sources of income,” said the Moroccan monarch
The main objective now is, in addition to tackling the pandemic, “to deal with its socio-economic repercussions, within the framework of a global prospective conception, drawing the lessons from this stage in order to take advantage of them,” as the King of Morocco pointed out.
The King of Morocco shed light on a series of strategies to be followed in the country to improve the current situation: “Firstly, it is a matter of launching an ambitious plan for economic revival, which will allow the productive sectors to recover their health and improve their capacities to generate jobs and preserve sources of income. This requires the mobilization of all available possibilities, such as financing, stimuli and solidarity measures to support businesses, especially SMEs, which are the backbone of the national economic fabric.”
he added: In this context, nearly 120 billion dirhams will be injected into the national economy, or the equivalent of 11% of GDP, a rate that places Morocco among the countries that have dared most in the policy of economic recovery after the current crisis. We have also considered it appropriate to create a strategic investment fund, whose role would be to support productive activities, as well as to accompany and finance major investment projects between the public and private sectors, in the various domains. This fund is based on the State’s contribution, and will coordinate and rationalize the financing funds