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Friday 1 March 2024

Morocco: Public Investment in Construction Sector Up 56% in 2024

Morocco: Public Investment in Construction Sector Up 56% in 2024

Public investment in the Moroccan construction sector increased by 56% in 2024 compared to 2023, to reach 64 billion dirhams, Minister of Equipment and Water, Nizar Baraka, said Thursday in Rabat.

Speaking at an information day on the forecast programs for construction markets in 2024, which was attended by Minister of Transport and Logistics, Mohamed Abdeljalil, and Minister of Economic Inclusion, Small Business, Employment and Skills, Younes Sekkouri, the minister pointed out that "this meeting is held in a year where the construction sector should experience a significant recovery thanks to an increased public investment and the implementation of structuring programs".

   In this context, Baraka recalled that these structuring programs include in particular the reconstruction and rehabilitation program of the areas affected by Al Haouz earthquake which, in implementation of the High Guidelines of His Majesty King Mohammed VI, will benefit from the reconstruction and rehabilitation of their infrastructure, but also from an ambitious development program through structural projects worth 120 billion dirhams, which will be implemented over a period of five years.

   The minister also noted that Morocco is preparing to host large-scale events, notably the 2025 Africa Cup of Nations and the 2030 FIFA World Cup, which “presents a crucial opportunity for transition towards integral development of the Kingdom, as desired by His Majesty King Mohammed VI, may God assist Him.”

MAP: 29 February 2024