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Tuesday 27 October 2020

Speaker of Lower House, IMF Delegation Discuss Recovery of Economy

Speaker of Lower House, IMF Delegation Discuss Recovery of Economy

The means to help with the recovery of economy were, on Monday, on the agenda of discussions between the speaker of the House of Representatives Habib El Malki, and a delegation from the International Monetary Fund (IMF).

This meeting held by teleconference was an opportunity to share views mainly on the means to revive the economy, and the role of the House of Representatives in the development and implementation of various reforms and innovations brought by the 2021 appropriation bill, said a press release from the House of Representatives.

On this occasion, El Malki reviewed the proactive measures adopted by the Kingdom at the beginning of the current year in order to curb the social and economic repercussions of the spread of the coronavirus pandemic, while recalling the decision of HM King Mohammed VI to create a special fund to help disadvantaged families and national businesses, and preserve jobs.

He underlined in this context that HM the King, in his speech at the opening of the Parliament, launched a plan for the recovery of the national economy, based on the creation of a strategic investment fund called "Mohammed VI Investment Fund ", worth 15 billion dirhams financed by the state budget. The objective is to promote investments, increase the capacities of the national economy through the support for the productive sectors, and the financing and support for large projects, within the framework of a public-private partnership.

He focused on the reform of the health system, the generalization of social coverage, the promotion of agriculture and rural development, the reform of public establishments and the improvement of governance.

Welcoming the measures undertaken by Morocco to deal with the pandemic, IMF chief of mission Roberto Cardarelli said that the precautionary and liquidity line made available to the Kingdom has made it possible to strengthen the capacities of the Moroccan economy to absorb crises and limit the negative repercussions of the pandemic, as well as confirmed the IMF's desire to support the national economy in the next stage.

MAP 27 October 2020