Foreign Minister Nasser Bourita and Economy and Finance Minister Nadia Fettah Alaoui chaired, on Thursday in Rabat, a working meeting with Bank Al-Maghrib, Tamwilcom, the Office des Changes and the presidents of the CGEM and the GPBM to learn about the national economic and financial situation, to examine the potential impacts of the Ukrainian crisis on the Moroccan economy and to propose solutions to economic operators to deal with the current situation.
The participants in this meeting were able to learn about the latest economic indicators. Economic activity in Morocco in 2021 rebounded due to the recovery of several sectors and branches of the national economy. This made it possible to make up for the production gap recorded in 2020, thanks to the measures taken within the framework of the recovery plan and the notable progress recorded in the area of vaccination.
On the other hand, the national economy is called upon to meet challenges in 2022 linked to the international surge in the prices of raw materials and energy, accentuated by the Ukrainian crisis. In this context, Nasser Bourita and Nadia Fettah Alaoui wanted to assure economic operators of the support and accompaniment of the government to face the difficulties that may arise from this situation.
Thus, and in view of the favorable results achieved in the context of the implementation of business financing support programs, in particular the covid-19 mechanisms, and in order to strengthen support for the financing of the operating cycle and the recovery business investment, it was decided to raise the guarantee ceilings under the classic “Tamwilcom” offer in order to increase the potential supply of cash loans and to reschedule the “Oxygen and recovery” loans for a period of up to 3 years.
Further measures will be taken as the situation evolves. To this end, it was agreed to maintain this consultation framework which will benefit from the support of the Ministry of Foreign Affairs, African Cooperation and Moroccans Residing Abroad.
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