CNBC_ Official sources in Morocco reported on Saturday, October 17, that the Moroccan budget law for the upcoming year 2027 has established priorities, led by supporting purchasing power and "consolidating the foundations of a sustainable social state," including the upgrading of the health and education sectors.
A statement from the Royal Cabinet, following the first ministerial meeting chaired by King Mohammed VI after the inauguration of the new government members yesterday, Friday, indicated that the Minister of Economy and Finance, Fouzi Lekjaa, delivered a presentation highlighting the broad outlines of the 2027 budget.
The budget presentation addressed "restoring purchasing power and consolidating the foundations of a sustainable social state, where work will begin as of 2027 to undertake a structural reform of markets and prices, and to adopt a series of measures aimed at supporting the purchasing power of citizens."
The High Commission for Planning revealed in its latest household survey that 76.3% of Moroccan households reported a decline in their standard of living over the past twelve months, compared to 18.5% who considered it stable, while only 5.2% stated they experienced an improvement.
The Finance Minister's presentation also stated that the 2027 budget aims to "increase the value of direct social support, in addition to doubling efforts to upgrade the public health and education systems," as well as promoting housing.
Morocco had previously initiated a direct social support program for the poor through in-kind assistance, which was deemed modest and insufficient.
The new government will oversee the final stages of a $20 billion plan in preparation for hosting the 2030 FIFA World Cup, which Morocco will co-host with Spain and Portugal.
