Addis Ababa – Morocco called, Monday in Addis Ababa before the 55th session of the Conference of African Ministers of Finance, Planning and Economic Development (COM2023), for refocusing spending on better targeted forms of social protection alongside income support.
The Kingdom also advocates for adequate political and technical support to initiatives aimed at facilitating cash transfers, such as the Rabat Forum on reducing the cost of transferring funds from the African Diaspora, said Ambassador Mohamed Arrouchi, the Kingdom’s Permanent Representative to the African Union and UNECA.
Arrouchi, who is leading the Moroccan delegation to the 22nd session of COM2023, stressed the need to focus on long-term growth through high-return investments in education, research and development and infrastructure projects.
The Moroccan delegation noted the importance of implementing progressive fiscal policies, particularly in terms of taxes and spending, in order to reduce extreme poverty and return to a pre-pandemic growth trajectory, while mobilizing domestic revenues without harming the poorest and most vulnerable, notably through a gradual increase in property and carbon taxes and the broadening of the personal and corporate income tax base.
This 55th session, which is being held face-to-face and by video conference, aims to renew attention and action on reducing poverty, inequality and other factors that make Africa’s population continuously vulnerable to these scourges.
The opening session of this session was marked by the confirmation of the members of the Bureau of the 55th Conference, including Morocco in its capacity as 2nd Vice-Chairman and the adoption of the agenda and work program.