“The national economy is clearly recovering, despite the unprecedented repercussions of this crisis and the contraction of the global economy,” the Sovereign pointed out in a speech to the parliament on the occasion of the opening of the 1st session of the 1st legislative year of the 11th legislature.

“Despite the positive environment, we should remain realistic and continue to work in a responsible manner and with a keen sense of patriotism, avoiding any pessimism or negative discourse,” the Monarch added.

Regarding national economy, the Sovereign noted that the growth rate is expected to exceed 5.5% in 2021 - a rate which we have not seen in many years and which is among the highest at regional and continental levels.

During the current year, the agricultural sector is set to achieve remarkable growth - an increase of more than 17% - thanks to efforts to modernize the sector and also thanks to this year’s good harvest, the Monarch said, adding that there has also been a noticeable increase in exports in a number of sectors, such as the automobile, textile, electronic and electric industries.

“Despite the repercussions of the crisis, trust in our country and in the vibrancy of our economy has remained unchanged, as illustrated by the increase - up to August of this year - in foreign direct investments and in the remittances from Moroccans residing abroad, which have risen by approximately 16% and 46% respectively,” said HM the King, noting that these developments have enabled Morocco to have comfortable hard currency reserves.

Despite the difficulties and the fluctuations in global markets, the inflation rate has been kept under control - at 1% - which is significantly lower than the high inflation rates seen in a number of countries in the region, the Sovereign added.

All of these are indicators which thankfully call for optimism and hope, thereby boosting not only confidence among citizens and families, but also the entrepreneurial spirit among economic actors and investors, the Monarch said.

The Monarch underlined that the state, for its part, will carry on with this national effort, especially through public investment as well as support measures and incentives for businesses.

The Kingdom has achieved a great deal in terms of protecting public health and providing support to the sectors and populations affected by the crisis, said HM the King, adding that the state has met its obligations, supplying vaccines - on which it spent billions - free of charge.

“It has also provided all other necessities in order to mitigate the impact of the crisis on citizens,” the Monarch pointed out.

“However, the state should not be held responsible if the citizens fail to protect themselves and their families through vaccination, the use of protective means and compliance with the measures taken by the public authorities concerned,” HM the King underlined.