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Akhnouch: Morocco Did Not Choose to Surrender Amid the Collapse of International Economic References
Aziz Akhnouch, the Prime Minister, affirmed that the principles underpinning the international economic system have collapsed in recent years, in light of the return of war to Europe and the rising strategic tensions among major powers.
In a speech delivered today, Tuesday, at the World Economic Forum in Davos, Akhnouch stressed that Morocco did not choose retreat or capitulation in a world marked by profound uncertainty; rather, it opted for protective and reformist policies while looking toward the future.
The Prime Minister explained that this approach is based on safeguarding citizens within a social state that assumes full responsibility, reforming the economic foundations to restore confidence, and working to establish Morocco as a pivotal investment hub at the crossroads of Europe, Africa, and the Atlantic.
Akhnouch highlighted that the focus is no longer solely on places that yield the highest returns but on building more resilient and sustainable pathways, affirming that Morocco, under the leadership of King Mohammed VI, is providing an ambitious, simple, and comprehensive response.
He noted that building any geopolitical destiny necessarily involves a cohesive society, emphasizing that the state has established, following the COVID-19 pandemic, a shield to protect families from sharp price increases, mobilizing over $13 billion between 2021 and 2025 to maintain the stability of essential goods prices.
He added that approximately $1.7 billion has been allocated to protect families from increases in electricity and water tariffs, stressing that these measures have allowed, without compromising financial balances, to reduce the inflation rate from over 6% in 2023 to below 1% during 2024 and 2025, one of the lowest rates in the region.
Akhnouch reported that the growth rate reached 5% by the end of 2025, while the budget deficit decreased from 7.1% in 2020 to 3.5% in 2025, and public debt fell from 71.4% in 2022 to 67.4% in 2025, considering these indicators reflect the resilience of the Moroccan economy and its ability to withstand challenges.
He emphasized that the sustainability of the social state initiative can only be achieved through a strong and flexible economy, pointing out the expansion of mandatory health insurance, benefiting more than 32 million people, or about 88% of citizens, compared to 42% before the launch of this reform.
The Prime Minister highlighted that his government places special importance on reforming the health and education systems, clarifying that, upon royal instructions, the budgets for both sectors have been raised by about 20% for the year 2026, reaching approximately $13 billion, enabling the modernization of infrastructure, improving service quality, and increasing wages for professionals.
He stressed that social protection, without in-depth economic transformation, remains incomplete, highlighting that the economic reforms initiated by Morocco have received international recognition, reflected in its exit from the grey list of the Financial Action Task Force, regaining its investment grade rating, and obtaining a flexible line of credit from the International Monetary Fund worth $4.5 billion for precautionary purposes.
He explained that foreign direct investments reached a record level of nearly $5 billion in 2025, at a time when the world is experiencing a decline in capital flows, affirming that Morocco has chosen to proceed with both social and economic pathways simultaneously.
On a logistical level, Akhnouch noted that Morocco has bolstered its position as a strategic link, thanks to the Tangier-Med Port and new port and industrial complexes, in addition to the development of road and rail networks and digital infrastructure, followed by gas connectivity.
He also affirmed that the kingdom has chosen to be an active player in energy transition, as the share of renewable energy exceeded 46% of installed electricity generation capacity by the end of 2025, with expectations to surpass the target of 52% before 2030, alongside engaging in green hydrogen projects.
The Prime Minister concluded by affirming that the adoption of Security Council resolution No. 2797 on October 31, 2025, represents a clear message to the international community by recognizing the Moroccan initiative for autonomy in the southern regions as the basis for negotiations, within the framework of respecting the kingdom’s sovereignty and territorial integrity.
