Morocco To Extend Budget by 10Bln MAD, Official

Morocco’s government is developing a draft decree for 10 billion dirhams ($1 billion) budget extension to strengthen the finances of many government departments, according to the country’s Minister Delegate for Economy, Fouzi Lekjaa.
The official in charge of the budget told the House of Representatives Finance and Economic Development Committee that the extension will address concerns such as water scarcity and inflation, as well as boost the tourism industry.
The extension covers 40Bln MAD (400Mln$) for Morocco’s Office of Electricity and Drinking Water (ONEE), and 1.5 Bln MAD (150Mln$) for the National Program for Drinking and Irrigation Water Supply 2020-2027.
An additional 3.3 Bln MAD (330Mln$) would be used to contain inflation and preserve the purchasing power, whilst 1.2 Bln MAD (120Mln$) will support Morocco’s tourism industry strategy.
Last October, the government implemented a 12Bln MAD (1.1Mln$) extension, citing identical reasons relating to rising fuel and food prices.