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The Moroccan Economy in Brief: Saturday, November 21, 2020

Finance Bill 2021: Nearly MAD 13 billion in tax expenditures to benefit households:
The Finance Bill (PLF) for the financial year 2021 provides for a total of MAD 13 billion of fiscal expenditure for the benefit of households, said Friday in Rabat, the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaaboun. "The government ensures the preservation of the purchasing power of the middle class. This is evidenced by PLF-2021 which, despite the impact of the economic situation on the resources of the General State Budget, provides more than MAD 14 billion for the government's commitments within the framework of social dialogue and MAD 13.6 million for the continued subsidization of basic consumer goods," said Mr. Benchaâboun in his response to interventions at the Committee on Finance, Planning and Economic Development under the House of Councillors, during the general discussion of PLF-2021.

After sales service: STG Telecom sharpens its weapons:
The after-sales service (SAV) of the company STG Telecom declares to record exceptionally low rates of return for the various terminals of the young brand. These do not exceed 0.69 and 0.42% respectively for the STG X2 and X3. Better, a record is posted for the STG S10 with a remarkable rate of 0.17%. "The success of the brand's smartphones is a direct consequence of the exceptional quality of the components and materials used," said Walid Azghiri, Director of Information Systems (DSI) at STG Telecom, in a press release. According to the DSI, "STG Telecom's after-sales service centers have all the equipment and spare parts required for consultation and repair of its smartphones, not to mention the Moroccan expertise in charge of this service, who have received several training courses in this area.

Morocco's treasury debt/GDP ratio is expected to reach 76% at end 2020:
The ratio of the treasury debt to GDP should reach 76% by the end of 2020, after having decreased to 64.9% in 2019, said Friday in Rabat, the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaâboun. "Given the double impact of the decline in growth and the increase in the budget deficit, the ratio of the treasury debt to GDP should reach 76% by the end of 2020, after having marked in 2019 its first decline in ten years where it stood at 64.9%," said Benchaâboun in his response to interventions to the Committee on Finance, Planning and Economic Development under the House of Councillors, during the general discussion of PLF-2021.


Traffic in Moroccan airports in free fall, the figures:
Commercial passenger traffic recorded, over the first ten months of the year 2020, a decline of 70.79% compared to the same period in 2019, reaching 6.144 million passengers, according to the National Office of Airports (ONDA). International traffic has shown a decline of 71.87%, due to a decline in all geographical sectors, including Europe (-71.06%), Africa (-71.55%), the Middle and Far East (-77.94%) and North America (-75.17%), says the Office in its monthly statistics. For the month of October alone, the Kingdom's airports recorded a decline of about 82.02% compared to the same period in 2019, welcoming 388,659 passengers, against 2,161,696 passengers in October 2019, ONDA said, adding that the Mohammed V airport welcomed about 46% of total passenger traffic, against 848,373 passengers for the same period in 2019, a decline of 79.08%.


Morocco will devote nearly MAD 13 billion to benefit households:
The draft finance law (PLF) for fiscal year 2021 provides for a total of MAD 13 billion of tax expenditure for the benefit of households, said Friday in Rabat, the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaaboun. "The government ensures the preservation of the purchasing power of the middle class. This is evidenced by PLF-2021 which, despite the impact of the economic situation on the resources of the General State Budget, provides more than MAD 14 billion for the government's commitments within the framework of social dialogue and MAD 13.6 billion for the continued subsidization of basic consumer goods," said Benchaâboun in his response to interventions at the Committee on Finance, Planning and Economic Development under the House of Councillors, during the general discussion of PLF-2021.