Latest news with #Lekjaa
Morocco World
a day ago
- Business
- Morocco World
Morocco Links 2025 AFCON Investments to 2030 World Cup Preparation
Rabat — Morocco's minister in charge of the budget Fouzi Lekjaa has said that the country's infrastructure projects for the 2025 Africa Cup of Nations (AFCON) will directly support the country's preparation for the 2030 FIFA World Cup. Speaking at a ministerial conference titled '2030 World Cup: Financial, Institutional and Strategic Challenges' at the National School of Public Administration (ENSA), he explained that the government designed the AFCON investments as part of a continuous strategy to prepare for hosting the World Cup five years later. 'The infrastructures, investments and constructions linked to AFCON 2025 integrate into a coherent and progressive approach to prepare for the 2030 World Cup, guaranteeing a lasting legacy and optimized development of Morocco's sports, economic and territorial spheres,' Lekjaa said. Massive investment program underway The government has committed approximately MAD 150 billion ($15 billion) to infrastructure projects across multiple sectors. The program includes construction of a water treatment plant with a capacity of 2 billion cubic meters to meet industrial and domestic needs. Morocco will finance transportation infrastructure through public-private partnerships, with the state providing annual support of about MAD 1.6 billion ($ million) until 2030, ensuring project continuity and financial viability, according to Lekjaa. The minister detailed that mobility between host cities remains a central challenge. Morocco has already started developing high-speed rail lines and regional express networks to connect Casablanca, Rabat, Tanger, and the southern provinces. These projects will promote territorial and economic integration across the country. Financial structure protects state budget Lekjaa stressed that officials designed the financial structure to avoid burdening the general state budget. Morocco created an innovative financing and operation scheme in partnership with the Deposit and Management Fund (CDG) and the National Company for the Realization and Management of Sports Equipment (SONARGES). This partnership allows for 20-year amortization, guaranteeing investment viability while protecting public finances. Stadium construction on schedule The minister announced that construction work on two stadiums for AFCON 2025 will meet precise deadlines. The Moulay Abdellah stadium in Rabat will complete construction by July 31, while the Grand Stadium of Tanger will finish by August 15. Lekjaa positioned this organization within a broader vision that includes other international women's and continental competitions. The events will strengthen Morocco's organizational capabilities while consolidating its long-term sports and economic influence. Royal vision guides strategy Lekjaa concluded by reiterating that the 2030 World Cup fits into a comprehensive strategic vision carried by King Mohammed VI. The goal extends beyond organizing a major sporting event to driving lasting economic, institutional and territorial transformation for Morocco. The ministerial conference featured Morocco's commitment to leveraging sports infrastructure investments for long-term national development while establishing the country as a regional leader in hosting international events. Tags: 2025 afconFIFA 2030
Ya Biladi
2 days ago
- Business
- Ya Biladi
Morocco boosts infrastructure for AFCON 2025 and World Cup 2030 preparation
The ambitious infrastructure, investment, and construction initiatives launched for the 2025 Africa Cup of Nations (AFCON) are key components of a broader strategy to lay a robust foundation for the 2030 World Cup. This was emphasized by Fouzi Lekjaa, Deputy Minister in charge of the Budget, during a session in Rabat on Friday. «The projects tied to AFCON 2025 are seamlessly woven into a strategic framework aimed at gearing up for the 2030 World Cup. This approach not only ensures a lasting legacy but also maximizes the development of Morocco's sports, economic, and territorial sectors», stated Lekjaa at a ministerial conference focused on the theme «World Cup 2030: Financial, Institutional, and Strategic Challenges», held at the National School of Administration (ENSA). He revealed that an investment of approximately 150 billion dirhams (MMDH) is being funneled into key sectors, including the construction of a drinking water treatment plant with a capacity of 2 billion cubic meters, designed to meet both industrial and domestic demands. Continuing in this vein, Lekjaa highlighted that the financing of transport infrastructure is anchored in public-private partnerships (PPPs), complemented by an annual state subsidy of about 1.6 MMDH until 2030, ensuring the projects' continuity and financial sustainability. He underscored the significance of mobility between host cities, noting, «The development of the high-speed rail line (LGV) and the regional express network (RER) is actively progressing, particularly to link Casablanca, Rabat, Tangier, and the southern provinces, fostering the Kingdom's territorial and economic integration». Addressing the financial framework, he assured that it is crafted to avoid burdening the general state budget. He elaborated, «An innovative financing and operational model, in collaboration with the Deposit and Management Fund (CDG) and the National Company for the Realization and Management of Sports Facilities (SONARGES), facilitates a 20-year amortization, ensuring the sustainability of investments». Furthermore, Fouzi Lekjaa announced that the construction of the two stadiums designated for AFCON 2025 will adhere to a strict timeline, with the Moulay Abdellah Stadium in Rabat slated for completion by July 31 and the Grand Stadium in Tangier by August 15.
Ya Biladi
2 days ago
- Business
- Ya Biladi
Morocco boosts infrastructure for AFCON 2025 and World Cup 2030 preparation
The ambitious infrastructure, investment, and construction initiatives launched for the 2025 Africa Cup of Nations (AFCON) are key components of a broader strategy to lay a robust foundation for the 2030 World Cup. This was emphasized by Fouzi Lekjaa, Deputy Minister in charge of the Budget, during a session in Rabat on Friday. «The projects tied to AFCON 2025 are seamlessly woven into a strategic framework aimed at gearing up for the 2030 World Cup. This approach not only ensures a lasting legacy but also maximizes the development of Morocco's sports, economic, and territorial sectors», stated Lekjaa at a ministerial conference focused on the theme «World Cup 2030: Financial, Institutional, and Strategic Challenges», held at the National School of Administration (ENSA). He revealed that an investment of approximately 150 billion dirhams (MMDH) is being funneled into key sectors, including the construction of a drinking water treatment plant with a capacity of 2 billion cubic meters, designed to meet both industrial and domestic demands. Continuing in this vein, Lekjaa highlighted that the financing of transport infrastructure is anchored in public-private partnerships (PPPs), complemented by an annual state subsidy of about 1.6 MMDH until 2030, ensuring the projects' continuity and financial sustainability. He underscored the significance of mobility between host cities, noting, «The development of the high-speed rail line (LGV) and the regional express network (RER) is actively progressing, particularly to link Casablanca, Rabat, Tangier, and the southern provinces, fostering the Kingdom's territorial and economic integration». Addressing the financial framework, he assured that it is crafted to avoid burdening the general state budget. He elaborated, «An innovative financing and operational model, in collaboration with the Deposit and Management Fund (CDG) and the National Company for the Realization and Management of Sports Facilities (SONARGES), facilitates a 20-year amortization, ensuring the sustainability of investments». Furthermore, Fouzi Lekjaa announced that the construction of the two stadiums designated for AFCON 2025 will adhere to a strict timeline, with the Moulay Abdellah Stadium in Rabat slated for completion by July 31 and the Grand Stadium in Tangier by August 15.
Maroc
6 days ago
- Business
- Maroc
Tax Revenues to Increase by MAD 25.1 Bln by End of June 2025
Morocco's tax revenues increased by MAD 25.1 billion by the end of June 2025, a 16.6% rise compared to the same period in 2024, Minister Delegate for the Budget Fouzi Lekjaa announced on Monday before the House of Representatives. Responding to a question on 'evaluating the effects of tax reform measures on public finances,' Lekjaa stated that corporate tax (IS) revenues reached MAD 13.1 billion, while personal income tax (IR) and value added tax (VAT) revenues rose by 6.7% and 3.1%, respectively. The minister attributed the impact of the tax reform to a broader tax base and stronger efforts to combat fraud and tax evasion. He stressed that the aim is to create a fairer and less burdensome tax system for all citizens, noting that such reforms must be implemented progressively. Lekjaa added that the government expects to close 2025 with a budget deficit of around 3.5% and a debt to GDP ratio below 67% with the goal of reducing the deficit to 3% and the debt ratio to below 66%, "to ensure the sustainability of public finances and avoid compromising future generations". He emphasized that the tax reform, described as one of the most significant changes in Morocco's public finance sector in recent decades, had already raised an additional MAD 102 billion in tax revenue by the end of 2024. These funds, he noted, have helped support social reforms, wage increases, and other socially focused initiatives. MAP: 15 July 2025
Morocco World
6 days ago
- Business
- Morocco World
Morocco Prepares for 2030 FIFA World Cup with New National Sports Foundation
Morocco's House of Representatives passed a new bill on Tuesday to establish the 'Fondation Maroc 2030', a national body dedicated to overseeing preparations for the 2030 FIFA World Cup and other major international sporting events. The bill, adopted with 112 votes in favor and only one against, received no abstentions. Minister Delegate in charge of the Budget, Faouzi Lekjaa, presented the bill as part of Morocco's broader vision to meet the Royal Directives that call for well-structured planning ahead of the tournaments. He described the moment FIFA officially confirmed Morocco as a host country for the 2030 World Cup as a turning point. For Lekjaa, it confirmed the trust of the international community in Morocco's ability to deliver at a global level. But the foundation's purpose goes beyond football. Lekjaa spoke of an opportunity to support national development, expand infrastructure, strengthen Morocco's economic position, and create jobs, especially for young people. He noted that global events of this scale give Morocco a chance to deepen its appeal as a tourist destination and elevate its international profile. 'The Fondation Maroc 2030' will bring together different sectors and institutions under one unified structure. Its role will involve organizing and coordinating football tournaments such as the Africa Cup of Nations (AFCON) and the World Cup, while working alongside government agencies and local authorities. The foundation will also support host cities and regions, follow up on national commitments, and help present Morocco as a capable host for major events. The structure of the foundation includes a president, who also heads the World Cup 2030 Committee, and an executive council drawn from government departments. Lekjaa also detailed the creation of a consultative council composed of representatives from the private sector, civil society, and Moroccans living abroad. This council will offer recommendations to strengthen national engagement. A separate committee led by the Minister of the Interior will handle coordination across territories. Day-to-day management will be entrusted to a director general responsible for applying decisions made by the executive council. Lekjaa described the new foundation as a strategic mechanism rather than a bureaucratic one. It reflects a national effort rooted in participation and wide consultation. Tags: 2030 FIFA World CupFIFAFIFA World CupMoroccosports
