The government kept the country’s growth forecast unchanged at 3.7 percent in 2024, compared to 3.4 percent expected this year.
It also expects the fiscal deficit to shrink to four percent of GDP in 2024 from 4.5 percent expected this year, despite increased spending on social services and reconstruction efforts.
The Kingdom said it will invest $12 billion over the next five years to rebuild homes and modernize infrastructure in areas hit by the 6.8-magnitude earthquake that killed nearly three thousand people.
Finance Minister Nadia Fattah Al-Alawi told members of parliament later in the day that this month the government will begin distributing monthly aid worth 2,500 dirhams ($250) to 60,000 families affected by the earthquake, most of them in the High Atlas Mountains.
She added that universalizing comprehensive health insurance requires improving the health sector, for which the government has allocated $3.1 billion next year.
The Ministry of Housing said last week that it would provide financial support to help the low-income and middle classes obtain housing.
The minister said that Morocco, which suffers from drought, also allocated $1.8 billion to invest in waterways, dams and water desalination plants.
She added that the 2024 budget allocated a record amount of 335 billion dirhams ($32.5 billion) for public investments, an increase of 11.6 percent.
The government expects inflation to slow to 2.4 percent next year from six percent expected this year.
The government also allocated a budget of 16.357 billion dirhams ($1.6 billion) to control the prices of sugar, cooking gas, and soft wheat next year.
The Minister of Finance said that those in need will begin receiving direct cash assistance worth at least 500 dirhams per month by the end of the year.
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