Idriss Azami Al Idrissi, first vice-secretary general of the Justice and Development Party (PJD), recently defended the economic record of his party’s past governments while criticizing the current administration’s management of the national economy.
Economic Performance and Financial Inclusion
According to Idriss Azami Al Idrissi, participatory finance has become a significant driver of inclusion in Morocco. Since its launch in 2018, the sector has recorded an average annual growth rate of nearly 17%. Furthermore, Mourabaha real estate financing now accounts for approximately 12% of total housing finance in the country.
The PJD official noted that 90% of those using participatory banking services had no prior access to the banking system, marking a shift in financial reach. Additionally, he reported that total bank deposits rose from 485 to 513 billion dirhams.
Nearly 90% of the beneficiaries of participatory financing in Morocco accessed banking services for the first time through this specific model, according to figures shared by Idriss Azami Al Idrissi.
Critique of Current Economic Policy
Idriss Azami Al Idrissi argued that the current government has failed to resolve a persistent “crisis of confidence” that he believes hampers the economy. He asserted that without institutional trust, economic policies cannot reach their full potential. He specifically pointed to the business climate, claiming it currently discourages rather than attracts investors.
The PJD official also addressed the issue of job creation. He stated that the concentration of major projects within a limited number of companies restricts employment growth. He advocated for a broader distribution of investments to small and medium-sized enterprises (SMEs) to create a more dynamic economic fabric.
The focus on “trust” as a macroeconomic pillar suggests that the PJD is positioning its 2026 election platform around the idea that institutional transparency and the removal of conflicts of interest are prerequisites for growth. This framing shifts the debate from pure fiscal metrics to the underlying health of the relationship between the state, business owners, and the public.
Future Outlook and Structural Reforms
While acknowledging that Morocco maintains solid economic indicators and institutional stability, Idriss Azami Al Idrissi warned that some recent results rely on exceptional resources rather than sustainable structural reforms. He expressed concerns that rising corporate tax and VAT revenues reflect increased fiscal pressure on businesses rather than genuine economic growth.
Looking toward future economic adjustments, he proposed several potential paths for the kingdom:
- A national debate to address the imbalances currently slowing the economic model.
- A tax reform that balances state funding needs with the competitiveness of the private sector.
- Increased support for auto-entrepreneurs.
- Expansion of the Casablanca Stock Exchange by facilitating the entry of SMEs, startups, and public establishments.
Frequently Asked Questions
What is the PJD’s stance on the current economic climate?
Idriss Azami Al Idrissi claims the current business climate discourages investors and that the government has not overcome a crisis of confidence, which he argues is essential for effective economic policy.
How does the PJD evaluate its own economic record?
The party points to the growth of participatory banking, which has seen a 17% annual growth rate since 2018, and an increase in bank deposits.
What changes does the PJD propose for the financial sector?
The party calls for an easier path to the stock market for SMEs, startups, and industrial firms, alongside the acceleration of public institution listings to broaden funding sources.
How might these proposed shifts in fiscal and investment strategies alter the landscape for small business owners in the coming years?
