HM the King Chairs a Council of Ministers

His Majesty King Mohammed VI, may God assist Him, accompanied by His Royal Highness Crown Prince Moulay El Hassan, chaired Saturday at the Royal Palace in Rabat a Council of ministers, according to a statement by the Royal Office.

Here is the translation:

“His Majesty King Mohammed VI, may God assist Him, chaired on Saturday, October 17, 2026, corresponding to 05 Jumada I 1448 H, at the Royal Palace in Rabat, a Council of Ministers dedicated to examining and adopting the general guidelines of the Finance Bill for the year 2027.

At the beginning of the Council’s proceedings, and in accordance with the provisions of Article 49 of the Constitution, the Minister of Economy, Finance and Public Performance presented before His Majesty the King an overview of the main lines of the Finance Bill for the year 2027.

The Minister emphasized that this Bill comes amid a deeply unstable international environment, marked by the rising cost of geostrategic conflicts, increasing protectionist trends, and intensifying competition over energy, technology, and financing.

In the face of these changes, our country continues, under the enlightened Leadership of His Majesty the King, may God preserve Him, to consolidate the foundations of its resilience and strengthen the dynamism of its economy. Thus, the national economy is expected to achieve a growth rate of 4.7% by the end of the current year, with inflation contained at 0.7%, alongside a reduction in the budget deficit, which should be brought down to 3% of GDP.

The Finance Bill for the 2027 fiscal year centers around the following five priorities:

First: Restoration of purchasing power and consolidation of the foundations of a sustainable social state: Within this framework, a structural reform of markets and prices will be initiated starting in 2027, accompanied by measures aimed at supporting citizens’ purchasing power, continuing the generalization of medical coverage while ensuring the sustainability of its schemes, revaluing direct social assistance, upgrading public health and education systems, and strengthening access to decent housing through the deployment of the direct housing assistance program.

Second: Integration of youth into education, training, and decent employment: The government will work on launching an integrated national program for youth 2027–2031, focused on guiding them toward a set of programs built around training, incubation, and facilitating access to financing, guarantee mechanisms, and markets.

Third: Acceleration of the implementation of advanced regionalization and the new generation of integrated territorial development programs: In accordance with the High Royal Guidelines concerning the reorganization of regional competencies based on a clear and efficient approach, as well as the consolidation of coordination and contractual mechanisms between the State and the regions, alongside the full implementation of the National Charter of Administrative Deconcentration.

Fourth: Strengthening strategic sovereignty in water, energy, food, and digital technology: To ensure strategic water security, accelerate the renewable energy development program, continue the deployment of the Morocco Offer for green hydrogen, and implement the gas infrastructure roadmap progressively, alongside a series of measures aimed at guaranteeing food security and strengthening national digital sovereignty.

Fifth: Building a strong economy capable of financing social and sovereign ambitions, alongside accelerating the implementation of institutional reforms and preserving macroeconomic and budgetary balances: Aimed at mobilizing the necessary funding to accelerate the momentum of major developmental projects and sector-specific strategies across various fields, alongside developing new sovereign industrial ecosystems.

The Finance Bill for the year 2027 also places particular emphasis on strengthening private investment through the consolidation of support mechanisms provided by the Investment Charter and the continued reform of Regional Investment Centers, while focusing on support for micro, small, and medium-sized enterprises.

Furthermore, the Finance Bill for the year 2027 pays special attention to youth, which constitutes one of the most critical and urgent priorities of this phase. This requires moving beyond scattered sector-specific programs that have shown their limits, in favor of an integrated national policy to support youth pathways—from education and training to employment and housing—guaranteeing them economic and social stability.

In execution of the High Royal Guidelines, the implementation of the new generation of integrated territorial development programs will be accelerated through the allocation of budgetary appropriations on the order of 25 billion dirhams.”