Morocco’s Minister of Economy and Finance, Mohamed Benchaaboun has pledged to inject $404.4 million about MAD 3.7 billion to boost regional economies. Benchaaboun announced that despite the decline of nearly MAD 40 billion ($4.3 billion) in the resources of the general budget, Morocco is committed to inject the full contribution, including the fourth installment estimated at MAD 800 million ($87.4 million) before the end of 2020. The sum will benefit regional councils.
Minister Benchaaboun said that Morocco transferred nearly MAD 31 billion ($3.3 billion) to Moroccan regions since 2016.
The Minister’s declaration took place before the Finance and Economic Development Committee’s presentation of its report on Morocco’s 2021 Finance Bill, at the House of Representatives.
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A plenary session will take place for the vote on the first part of the finance bill. Also scheduled is a review of the vote on the second part of the bill. The House of Representatives will then vote on the finance bill as a whole on the same day.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry