Benchaaboun says Some $620 million has been spent from the Fund
Morocco’s Special Fund to fight coronavirus has reached $3.2 billion
Minister of Economy, Finance and Administrative Reform says Special Fund will allocate nearly $200 million monthly to compensate private sector employees who have been furloughed.
Tuesday 28/04/2020
Benchaaboun says Some $620 million has been spent from the Fund
RABAT - The overall resources of the Special Fund for the fight against the coronavirus pandemic reached 3.2 billion dollars as of April 24, said Morocco’s Minister of Economy, Finance and Administrative Reform, Mohamed Benchaaboun.
Some $620 million has been spent from the Fund, including $200 million that were allocated to the Health Ministry for the acquisition of the medical equipment and devices necessary to deal with the COVID-19 pandemic.
"We will ensure the support of the Health Ministry with the financial means necessary to fulfil its needs according to the evolution of the epidemiological situation in our country," Banchaaboun told parliament.
The minister said the Fund, which was created by King Mohammed VI, would also allow the provision of the necessary support to the national economy in order to absorb the negative shocks caused by the pandemic which has exacerbated scores of job losses and a halt of economic activity in several sectors.
Morocco took a string of preventive measures to contain the spread of the pandemic by closing most businesses and retail shops except grocery stores and supermarkets.
It granted a monthly allowance of $200 between March 15 and June 30 for those who have been furloughed by their employers in the private sector.
Benchaaboun said that the measures have been examined by the Economic Watch Committee created by the government, based on a proactive monitoring system.
Around 132,000 companies out of the 216,000 affiliated to the National Social Security Fund revealed that they had been affected by the pandemic and declared that more than 800,000 employees were furloughed.
Benchaaboun said the Special Fund would allocate nearly $200 million monthly to compensate them.
Meanwhile, Minister of Labour and Professional Integration Mohamed Amekraz said Thursday that the deductions from the salaries of civil servants for the benefit of the Special Fund were not compulsory following opposition from unions.
"Any civil servant not wishing to have his salary deducted for the benefit of the Fund is requested to submit a request to that effect," said Amkraz.
Prime Minister Saad Dine El Otmani announced on April 14 that civil servants would contribute to the Special Fund with up to three days' wages spread over the months of April, May and June.
Otmani’s decisions triggered unions’ fury.
The Democratic Confederation of Labour (CDT) said it rejected the "unilateral" decision to deduct civil servants' salaries and refused the compulsory aspect of the contribution to the COVID-19 Fund.
"Such a decision makes the initiative to contribute to the fund lose its noble and voluntary aspect," said the CDT.
