In a speech at the inauguration of the parliament, King Mohamed VI of Morocco called for a genuine agreement to address the “structural water stress” that the Kingdom faces.
According to Agence France-Presse, the Moroccan king stated: “We call to treat the problem of water, in all its dimensions, with the necessary seriousness, notably by dealing with all types of excess, and indiscriminate and reckless exploitation.”
He issued a warning, noting that Morocco “has lived in a structural water crisis” and has endured the worst drought in more than three decades.
The Kingdom is experiencing extreme dryness this year, which has negatively impacted the agriculture industry, which is crucial to economic growth.
This, together with the effects of the conflict in Ukraine, caused the central bank to lower its growth projections for this year to just 0.8%.
Mohamed VI emphasised, however, that Morocco is currently placing its bets “on productive investment, as a basic lean to revitalise the national economy and accomplish the country’s inclusion in the promising sectors.”
According to Mohamed VI, the government was instructed to transform each party’s commitments into a national investment contract in order to accomplish the desired aims. This was done in collaboration with the banking and private sectors.
According to the Moroccan king, this agreement intends to attract 550 billion dirhams in investments and generate 500,000 employment between 2022 and 2026.
With a population of roughly 36 million, Morocco hopes to resume economic development at a pace of 3.6% next year, provided that the grain crop averages 75 million quintals, which is still correlated with the amount of rainfall.
The Moroccan King demands a three-decade drought that has never before occurred.
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