During a press conference after Bank Al Maghrib’s quarterly board meeting, Governor Abdellatif Jouahri expressed deep concerns about the increasing youth unemployment rate in Morocco. He highlighted the recent events in Fnideq on September 15, where there were attempts to storm occupied Ceuta, as exacerbating the issue.

Jouahri pointed out that youth unemployment has risen from 46% to 48.8%, a global trend that is worrying. He attributed job losses mainly to challenges in the agricultural sector due to drought and adverse climate conditions. While other sectors are growing, they are unable to compensate for the losses in agriculture.

The governor mentioned state initiatives like Intilaka and Forsa programs to support young people considering emigration. He emphasized the importance of accompanying and nurturing young talent and noted that unemployment affects many Moroccan families.

Jouahri also discussed monetary policy decisions, keeping the interest rate at 2.75% and waiting for social dialogue on wage increases to unfold. He highlighted the need for caution in monetary policy amid global uncertainties, including tensions in the Middle East.

Regarding the Treasury’s potential move to the international market, Jouahri emphasized the importance of strategic international financing to address fiscal pressures and borrowing terms.