He emphasised that small and medium-sized businesses make up 90% of Morocco’s economy, and as a result, they are not prepared to float the dirham.
According to Al-Jawahiri, the main central bank’s responsibility is to promote investment and aid in economic growth, and the current issues have rendered the nation’s economy unprepared for the second float stage.
He pointed out that the percentage of the contribution of the private sector to the Moroccan economy does not exceed 35 percent, stressing that the bank aims to raise the contribution of the private sector to reach 66 percent.
Al-Jawahiri stated that “we aspire to change the 65 percent contribution of the government to the economy.”
The governor of Bank Al-Maghrib continued by stating that he anticipates inflation will not reach the bank’s targets over the course of the upcoming year, adding that the bank has increased interest rates by about a half percentage point to control inflation from abroad and that interest rate plans for the ensuing period will be determined by economic data.
The country’s economy is not prepared for a second float, according to Bank Al-special Maghrib’s governor.
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