The funding allocated to the regions as part of the implementation of advanced regionalization will reach 10 billion dirhams annually from 2021, announced, Thursday in Rabat, minister of Economy and Finance, Mohamed Benchaaboun.
As part of the implementation of advanced regionalization, an amount of 10 billion dirhams will be allocated to the regions from 2021, compared to 9.6 billion dirhams in 2020 and 8.5 billion dirhams in 2019, said Benchaaboun, who presented before the Finance Committees of both Houses of Parliament the progress report on budget implementation at the end of June 2019 and the general framework for elaborating the draft Finance Bill 2020.
On this occasion, the minister stressed the need to continue the momentum of investment and to support the various strategic projects, particularly in education, health, housing, justice, the reform of regional investment centers and sectoral strategies.
Benchaaboun also underlined the importance of streamlining the creation of budget items and administrative operating expenses, speeding up the overall reform of pension systems and continuing the gradual reform of the compensation system.
In addition, he emphasized the need to review the management of public investments, mainly through the use of innovative financing tools and the improvement of investment efficiency by promoting the most productive projects at the social and economic levels.
During the period 2020-2022, the budget deficit is expected to be contained at 3% of Gross Domestic Product (GDP), he noted, adding that growth should reach 4% by 2022.