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Moroccan government approves 15 projects to create 3,000 jobs

Moroccan government

Rabat, (Business News Report)|| The Moroccan government announced its approval to start 15 projects worth one billion US dollars (10.8 billion dirhams), to create nearly 3,000 jobs in the country.

In a statement, the Moroccan government said that the Investments Committee, at its 85th session, considered “17 draft agreements and agreement annexes, and ratified 15 of them, which will create 2,907 direct and indirect job opportunities.”

She explained that the telecommunications sector will be at the forefront of the investment projects that have been approved, with a value of 5.7 billion dirhams, or approximately 53% of the total expected investments.

The industrial sector came in second place, with investments worth approximately 3.2 billion dirhams, and projects with national or mixed capital represent the largest part of the expected investments, about 9.2 billion dirhams.

It is noteworthy that since the inauguration of the government of Aziz Akhannouch, last October, five meetings of the Investments Committee were held, headed by the Prime Minister, and approved 46 draft agreements and annexes with a total value of more than 33.4 billion dirhams, creating approximately 5,816 direct jobs and 8,475 indirect opportunities.

Last Monday, Moroccan Prime Minister  Akhannouch expected that the growth rate of the economy would range between 1.5% and 1.7% during 2022, instead of the 3.2% rate expected in the Finance Law.

During the monthly accountability session in the House of Representatives (the first chamber of Parliament), which was devoted to “the situation of the national economy in light of climatic and geostrategic fluctuations,” he said that this prediction came based on current data that took into account the latest developments on the national and international arenas.

In another context, the International Monetary Fund issued its forecasts for the growth of the Moroccan economy during the current year 2022, in the “Global Economic Prospects” report.

The IMF expected the Moroccan economy to grow by 1.1% this year.

Meanwhile, the growth of the Moroccan economy is expected to reach 4.6% during the next year 2023.

The IMF cut its forecast for the growth of the Moroccan economy, after it had expected it to record 3 percent in 2022.

The fund’s expectations come a day after Morocco reduced the GDP growth rate to 1.5-1.7 percent during 2022, down from its previous forecast of 3.2 percent in the current year’s budget.

Prime Minister Aziz Akhannouch attributed the reduction of his country’s economic growth expectations to the repercussions of the Russian-Ukrainian war and the drought in the Kingdom.

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