Morocco’s Prime Minister Saad Eddine El-Othmani announced the launch of a new plan to continue promoting small businesses and reforming Morocco’s banking sector. The countrywide initiative will support “entrepreneurship and involve banking institutions in Morocco’s dynamic development.” One of the anticipated changes in favor of contractors and public institutions is the return of VAT arrears. The move is estimated at $4 billion and described as “bold and unprecedented.”
The meeting took place at the monthly parliament session in Rabat. El Othmani also made a statement about the importance of diversifying economic partners and preparing for Morocco’s transformation by investing in new African markets.
El Othmani was born in Inezgane, near Agadir. He holds a Doctorate in Medicine from Hassan II University of Casablanca (1986) and in psychiatry (1994). He is the author of several psychology and Islamic law books and the former editor-in-chief of many magazines. His political career began in 2004 when he became the head of the Justice and Development Party (PJD). On March 17, 2017, King Mohammed VI appointed El Othmani as Morocco’s Prime Minister.