HIBAPRESS – Rabat
Abdellatif El-Jawahiri, the Wali of Bank Al-Maghrib, said that the government is the entity responsible for making economic and social decisions, stressing that the bank's role is limited to monitoring how these decisions reflect on the national budget.
This statement came in response to a question about the measures that the government might take to compensate the victims of the Asfi floods and restore life to the city, a large part of which was damaged. El-Jawahiri explained, during a press conference held in Rabat and dedicated to discussing monetary policy decisions, that the assessment of the effects of government policies is done accurately, including emergency spending for reconstruction, to ensure the preservation of financial and economic balances. He affirmed that the central bank closely monitors developments in revenues and public expenditures to be able to provide a clear picture of the repercussions of these decisions on the national economy, without interfering in the course of government decision-making itself. The Wali of Bank Al-Maghrib indicated that this approach reflects the balance between the bank's monetary independence and consideration of emergency government policies, stressing that coordination and careful monitoring help support financial stability and ensure the sustainability of the general budget, even in the context of dealing with natural disasters such as the Asfi floods.
