1 million Moroccans in poverty to receive financial grants

Mohamed VI Morocco Moroccan poverty

In a rare move, Morocco announced on December 25 that around 1 million families living in poverty would receive financial assistance on a monthly basis, according to Africa News.

These benefits have been in the pipeline for some time and are part of a social reform initiated by King Mohammed VI. 

Prime Minister Aziz Akhannouch announced that the scheme would be in operation as of December 28 and those entitled would receive 500 dirhams ($50) a month irrespective of family size. 

READ: Peer-to-peer crypto trading thrives in Morocco despite institutional ban

For the program to be implemented, a budget of around 25 billion dirhams ($2.52 billion) would have to be coughed up for next year, noted the government spokesperson Mustapha Baitas. 

In addition to the recently announced benefits, it is expected in the near future that medical care would be free of charge for 10 million disadvantaged Moroccans. 

2023 figures show that the kingdom has a poverty rate of 5.2 %, the highest it has been since 2010. The rise in economic uncertainty can be explained by the abrupt impact that the coronavirus pandemic had on the country as well as a destructive earthquake in September. 

Africa News/AFP



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