Abdellatif Jouahri, Governor of Bank Al-Maghrib, underscored the need for careful financial planning ahead of Tuesday’s 2030 FIFA World Cup during the bank’s quarterly board meeting, Morocco’s Press Agency (MAP) reported.
Jouahri again warned against excessive reliance on direct financial support as a long-term policy, stating that while short-term assistance might be acceptable, sustained aid risks fostering dependency among citizens.
“Support must encourage economic activity and create opportunities rather than simply addressing immediate needs,” he said.
The governor urged stakeholders to focus on economic growth and wealth redistribution as the most effective means of reducing unemployment. He cautioned against administrative fixes or limited initiatives that often fail to achieve meaningful results.
Jouahri also highlighted the need for active collaboration between the public and private sectors to drive sustainable development.
Morocco’s joint hosting of the 2030 FIFA World Cup is a significant economic opportunity for the Kingdom. Jouahri noted that market optimism is already evident in a 5.5% increase in bank loans, reflecting confidence in the country’s ability to execute such a large-scale project.
However, Jouahri underscored the importance of addressing Morocco’s recent unemployment data from Morocco’s Statistics and Forecasts Office (HCP), reiterating that robust economic growth remains the only viable path to addressing job shortages.
“This is not just about sports,” he concluded. “It’s about positioning Morocco as a global player while ensuring that our citizens reap the long-term benefits of these endeavors.”
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