The governor of the Bank of Morocco said on the unprecedented rise in the price of sacrificial animals, the lifting of subsidies on buta and the increase in employees’ wages!!! + (Video)

The governor of the Bank of Morocco, Abdellatif Jouahiri, defended the move to reduce the key interest rates to 2.75%, which was approved by the bank’s board during its second quarterly meeting of 2024.

In a press conference at the Bank of Morocco’s headquarters, Jawahiri emphasized that this decision came based on concrete changes in economic conditions since last March.

He explained that the previous rate hikes were due to inflationary pressures, while an improvement in these pressures led to the current decision to cut rates.

Al-Jawahiri pointed to an inflation forecast of 2.7% for 2025, emphasizing that fiscal policies are balanced between promoting growth and combating inflation.

In terms of the country’s fiscal situation, Al-Jawahiri emphasized the improvement in the balance of public finances, noting that the debt ceiling has decreased to 68%, and emphasized the need to reassess policies in the future due to the changing political challenges globally.

In another context, Jawahiri touched on the major investments Morocco is making in areas such as ports and seawater desalination, emphasizing Morocco’s readiness to host the 2030 World Cup through advanced infrastructure projects.

Al-Jawahiri concluded by emphasizing that economic conditions have improved significantly compared to the indicators in March, expressing the need for continuous reassessment of economic policies in the future, especially in light of the current global political conditions.

Source : Fez News Media

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