Baitas explains government measures

Baitas explains government measures
Baitas explains government measures

Recent projections from the International Monetary Fund (IMF) indicated that Morocco is expected to grow by 3.1% this year and 3.3% in 2025.

During the press briefing following the Government Council, this Thursday, May 2, government spokesperson Mustapha Baitas responded to concerns regarding the rise in inflation in Morocco and its impact on purchasing power citizens.

In his statement to the press, Baitas outlined the initiatives and strategies deployed by the government to alleviate this problem and promote stable economic growth.

One of the first remarks of the government spokesperson was “ the need to understand actions taken by government well before products hit the market with potentially inflationary prices“. This observation highlights “ the importance of considering the entire production and distribution chain when analyzing factors contributing to inflation“.

In a context of scarcity of precipitation, Baitas stressed “ the efforts made to intensify and expand irrigation areas, particularly in sectors concerned with the production of raw materials essential for citizen consumption. These measures aim to secure the supply of basic products and reduce inflationary pressure“, he clarified.

One of the major initiatives mentioned by the spokesperson is “ the allocation of considerable funds to support different aspects of the production and marketing chain. With an investment of 10 billion dirhams in 2023 and an equivalent sum planned for 2024, a total of 20 billion dirhams, the Moroccan government is committed to stimulating production, reducing costs and facilitating the distribution of essential products“.

With this in mind, Baitas recalled “ the specific support program for transporters, with a budget of 8 billion dirhams“. This support aims to mitigate logistics costs and guarantee efficient distribution of products throughout the territory, he stressed.

The Moroccan government’s overall approach to countering inflation and protecting citizens’ purchasing power is characterized by ” constant monitoring of the economic situation“. According to Baitas, “ additional interventions will be considered as necessary to maintain price stability and guarantee an acceptable standard of living for all Moroccans“.

-

-

PREV USD/JPY Forecast – US Dollar Continues to Grind Higher Against The Yen
NEXT Trump’s social media business under FINRA investigation – 05/21/2024 at 00:12