CNE: Nadia Fettah Alaoui returns to the economic challenges of 2022

The Minister of Economy and Finance, Nadia Fettah Alaoui, who interven during the annual meeting of the National Business Council (CNE) held at the headquarters of the General Confederation of Moroccan Enterprises (CGEM) in Casablanca, took the opportunity to review all the economic projects and challenges experienced by the Kingdom for the year 2022.

This meeting between the CGEM and the Ministry of Economy and Finance, which is held annually, was an opportunity for the stakeholders to update the public on the achievements in progress or already materialized in favor of the company and the challenges facing the national economy faced in the year 2022.

Inflation was undoubtedly one of the topics addressed by the Minister, Nadia Fettah Alaoui, who declared that thanks to the adoption of a series of support measures, Morocco avoided reaching a rate of inflation of around 10% over the past year. It should be remembered that this rate stood at 8.3% at the end of November, according to data from the HCP, i.e. the highest level witnessed for decades. However, forecasts for this year estimate that it will not exceed 6.5%.

Indeed, inflation was one of the most important challenges characterizing the year 2022, according to the minister, who pointed out that many developed countries recorded an inflation rate of 10%, and that the Kingdom could have be part of it. Morocco has thus managed to dodge this scenario due to the government measures implemented, in particular the subsidy of the compensation fund of 40 billion dirhams and the allocation of direct financial support to the transport sector affected by the surge in prices. fuel, in addition to maintaining the price of electricity consumption and the many actions carried out by Bank Al-Maghrib.

Fettah Alaoui notably recalled that the Kingdom has achieved a good performance in terms of exports with a growth of 33% and in terms of energy, without forgetting the 15% increase in transfers from MREs and the tourist receipt which has reached more of 80 billion dirhams. She did not fail to mention the unprecedented drought and water stress experienced by the country and to detail the various measures taken by the government to deal with the shortage of water resources.

Regarding the establishment of the Mohammed VI Fund for Investment, the Minister revealed that the dedicated budget was capitalized at 15 billion dirhams from the State, “but the objective is to double this amount. This presumes a discussion with Moroccan and foreign institutional investors”. Fettah Alaoui clarified on the other hand that meetings are held with government sectors to identify priority areas for investment, which slows down the process.

As for the Investment Charter, the Minister of Economy and Finance hopes thatEU” the texts will be promulgated shortly. We have planned 3 billion DH in this year’s budget to support it“. This Charter also provides for a record support system with bonuses that could reach up to 30% of the investment amount, provided that this investment meets the criteria of job creation, sustainability, reduction of disparities and exclusivity.

For his part, the president of the CGEM, Chakib Alj said that a set of structuring projects have been launched to operate a real revival, support growth and support the economic fabric so that it assumes and fully plays its role. He stated that ” the Framework Law 03-22 forming the Investment Charter, adopted on November 30, 2022, will undoubtedly bring a strong dynamic to private investment and facilitate the achievement of the objectives expected by the new development model“, and to specify that the publication of the application decrees will not be long in coming for an effective deployment of this charter.

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