The expenses of the compensation fund amount to 38 billion DH at the end of 2022

The expenses of the compensation fund should reach nearly 38 billion additional dirhams by the end of the year. This was announced by the government spokesman, Mustapha Baitas, during the weekly press briefing at the end of the government council which met on Thursday under the chairmanship of the Head of Government Aziz Akhannouch.

The spokesperson recalled that the Council of Government had taken stock of the year 2022 and approved the proposals for appointments to high office, in accordance with Article 92 of the Constitution. Mustapha Baitas further added that the expenses of the compensation fund were allocated, in part, to subsidizing the prices of butane gas, wheat and sugar, while another part was paid to transporters to control costs. transport of goods and passengers, in particular households that use public transport.

Baitas praised the good health of tourism and Moroccan craftsmanship for which exports are made. This sector will exceed 1 billion DH, a record (best figure dates back to 2019 with 795 million DH). To stay in tourism, he said that 70,000 electronic visa applications have been processed and that the high demand has pushed to open this service to new countries.

For his part, Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the budget answering a question from journalists on the Bank-Al-Maghrib forecasts which had again raised its key rate to 2.50% and revised the rates of economic growth downwards, indicated that the figures put forward are bound to evolve and that over the contexts, it is normal that there are fluctuations, but that the essential thing was to arrive at the end of the fiscal year to the expected results.

The BAM now expects inflation to be 6.6% in 2022, compared to 1.4% in 2021, mainly due to rising food and fuel prices. It should return to 3.9% in 2023 (+4.2% in 2024). Economic growth will mark a “clear slowdown” this year, to 1.1% (1.5% for the minister’s department), after the rebound of 7.9% recorded in 2021.

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