Moroccan PM reviews government's executive program before Parliament

Moroccan Prime Minister Saad Eddin Othmani reviewed the details of the Executive Program 2016-2021, which aims to put the Moroccan economy among the 50 most attractive countries for investment and among the emerging countries that adopt industrialization, diversification of sources of income, scientific research and technology. The Government is trying to achieve growth rates of 4.5 to 5.5 per cent, a budget deficit of less than 3 per cent, inflation of less than 2 per cent and unemployment of less than 8.5 per cent.
 
The program supports the democratic option, enshrines the principles of human rights as well as reforming the methods of housekeeping, improving the services provided to citizens, adopting the digital courts to improve the quality and fairness of the judiciary, in addition to developing the model of the Moroccan economy, reducing youth unemployment and caring for the elderly and the widows. Through the promotion of human development programs.

Othmani did not reveal the financial cost to achieve these goals, but he hinted to continue liberal approach to the economy relying on domestic and foreign investment, and the support of the private sector. He said that in the past years, Morocco has been able to increase the capacity of its economic system, which is resistant to crises, and has gained experience in the automotive, aircraft, telecommunications, financial, production, service and renewable energy sectors.

He indicated that the government is working to improve the business climate by liberalizing companies from tangled administrative constraints, providing a competitive climate for investment and innovation to improve resources and income, and adding more job opportunities to youth to reduce unemployment from 10 to 8.5 per cent.

The Prime Minister did not disclose further details, pointing out that the government will support projects of youth initiatives in the establishment of private companies, and keep pace with 2000 small companies, including 500 leading companies. It will also create a financial incentive system for new and emerging industrial companies investing in promising sectors.

He promised to adopt a new investment charter that would replace the current system of the mid-1990s, adopt a new system of banking institutions and introduce alternative financing systems in the framework of participatory finance (Islamic), with the aim of increasing savings rates and diversifying the financing mechanisms, which helps in the development of financial institutions.

Morocco aspires to be an international player at the economic level in the coming decade through increasing export competitiveness, diversification of production areas, modernization of management and rehabilitation methods and reliance on the human element. Future projects include building more factories for cars, aircraft, high-speed trains, renewable energies and food industries, as well as mainstreaming technology into daily and administrative life by 2020.