Speaking at a high-level panel on “Reviving Growth and Implementing Transformation in Emerging Markets and Developing Economies”, organized by the IMF, Baraka referred to the structural reforms launched to stimulate growth, stressing that Morocco is actively engaged in an ambitious reform program as part of the New Development Model (NMD).

In this respect, he pointed out that three priority reforms have been put forward, the first of which concerns the reduction of territorial inequalities, explaining, in this context, that Morocco aims to ensure equitable access to basic services and infrastructures for all its citizens, notably through territorial reform, strengthening local capacities, accelerating advanced regionalization and integrated regional planning.

Through the second reform relating to the development of human capital, the Kingdom is committed to strengthening this capital and raising it to high levels, encompassing all aspects of life, such as health, education, social protection, the empowerment of women and the adoption of the gender approach, the inclusion of young people and the preservation of cultural diversity, he noted.

Baraka indicated that the third reform concerns sustainability and resilience, specifying that the Kingdom is focusing on preserving natural resources, particularly water, and strengthening resilience in the face of climate change.

Referring to macro-structural and green reforms for the green transition, Baraka pointed out that Morocco is one of the few countries to have secured $1.3 billion in financing under the IMF’s Resilience and Sustainability Trust (RST).