Covid-19: Ministry of Economy Is Developing an Economic Recovery Plan (Official)

19 mai 2020 Printable Version

Rabat - Minister of Economy, Finance and Administration Reform, Mohamed Benchaâboun, said Tuesday that his department is putting the finishing touches to the economic recovery plan, the broad outlines of which will be presented in parallel with the amending Finance Bill.

The growth of the national economy will be impacted by the crisis as well as by the decline in agricultural value added due to the lack of abundant and regular rainfall, Benchaaboun noted during the oral question session at the House of Advisors.

The minister also estimated that the Treasury's resources should decline, stressing the need to review the assumptions on which the preparation of the 2020 Finance Bill was based, and to develop an amending Finance Bill.

The choice of any scenario requires the implementation of adequate and sustainable measures, stressed the minister, ensuring that within the framework of the Economic Monitoring Committee (CVE), this condition is taken into account by listening to all economic actors, the implementation of tools to enable businesses to overcome this unprecedented situation, as part of the economic recovery plan.

In this sense, he indicated that the preparation of an amending Finance Bill has already started through the updating of the assumptions adopted during the implementation of the 2020 Finance Bill and the main economic indicators, the introduction of new forecasts taking into account the impact of the crisis on the budget deficit, the balance of payments and the debt, in addition to the implementation of a multi-year action plan to stimulate economic activity.

"At the same time, we are studying a set of scenarios to deal with all likely situations. Each scenario will have a different impact on macroeconomic indicators depending on the speed of recovery of economic sectors on the one hand, and on the evolution trajectory of each sector on the other," he underlined.

The ministry is working to make the economic recovery plan a pact to revitalize the economy and employment, based on a common and shared ambition between the various parties concerned (State, companies, banking sector and social partners, ...), in accordance with clearly defined commitments based on effective monitoring and evaluation tools, said Benchaâboun.

This plan will undoubtedly constitute an important lever to support the gradual recovery of the various sectors of the national economy and the provision of adequate conditions for a promising economic recovery after the crisis.

This plan, he said, advocating a comprehensive and integrated approach through the involvement of different actors, is based on cross-cutting mechanisms that take into account the specificities of each sector according to well-defined strategies.