Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00I think they agree on it,
00:00:01today is required to take this and this is what we also saw
00:00:03during the election campaign through electoral promises, but
00:00:07today the method of implementation remains. Will there be agreement or disagreement?
00:00:11of hard currency from the national The coming days will show whether there is
00:00:14an agreement or there will be a slight disagreement on the issue of implementation,
00:00:17especially since the statement was issued by the government majority a little while ago.
00:00:21It confirmed that the components of this majority
00:00:24are characterized by political and intellectual convergence
00:00:26currency. To discuss this and share a common reformist vision.
00:00:30The composition is a real convergence in the references that you mentioned and the economic
00:00:33and social choices, and where
00:00:37and that can differences appear
00:00:39will not happen, because today government time should between these parties? I believe that we are dealing with two leftist parties today that will come
00:00:43into the government, and we must not
00:00:45is the Moroccan economy's ability to
00:00:46us, new municipal forget that the Authenticity and Modernity Party is also a party that includes a group of
00:00:49leftist and modernist currents, and therefore there will be some convergence
00:00:53in the ideological references between these parties. Then, we must not
00:00:57the 2027 draft financial law forget that even the Istiqlal Party, which we can classify as a conservative
00:01:00party, also has experience working alongside
00:01:03a group of leftist parties for
00:01:05to testing the ability many years, and therefore I do not think there will be a disagreement
00:01:09on ideological reference bases, because most of today's
00:01:12that the transformation in files are economic and social files, and these are concerns
00:01:17and the repercussions of these developments that the parties agreed on even before forming this government. But the question remains: which files
00:01:22So what is the source of the pressure will be prioritized?
00:01:24with citizens and with Of course, today we are talking about two parties that were in the opposition, and also throughout the past
00:01:28years, they have always formed a strong opposition to the government that
00:01:32included the Istiqlal Party and the Authenticity
00:01:35was about this education or other and Modernity Party. They have also always criticized the management of government files. Today, will these two parties,
00:01:39by entering the government, work to correct what they saw in
00:01:44overcome this the past as a deviation from the path that the government should take, especially with regard to files
00:01:48related to employment, development, prices,
00:01:52and so on? Or will there be resistance from these two parties,
00:01:55and will there
00:01:58we are talking about a reserve of be a new agreement on a new formula to deal with these files? So
00:02:01today, as I said, the features will emerge clearly through
00:02:05the government program, but also through
00:02:07be able to translate this the draft financial law for 2027, because of course,
00:02:11the financial framework is what will determine whether social files
00:02:14And the most important thing that this and employment files will be prioritized,
00:02:16communication and good work or whether there are other files that will be given this
00:02:20there would be an increase in citizen confidence in government priority. So, I believe that coherence will characterize the start
00:02:23of this government because most of the files are agreed upon. There may be
00:02:27differences at the level of implementation and the timing
00:02:36of the government coalition. What is striking in the statement issued a little
00:02:39while ago, Mr. Azraq, is
00:02:42Morocco. that it frankly mentioned taking into account previous government experiences
00:02:44before deciding on the formation of the majority. What are the lessons that
00:02:48can and should guide this choice and what
00:02:52the new majority should avoid at the level of political
00:02:57Regulations of the House, will begin at management and government work? I believe that the government today must remember that it
00:02:59is primarily a political government, and I believe that among the mistakes that
00:03:03faced
00:03:06Central Bank. Despite the pressure some previous governments was the issue that the political dimension was somewhat
00:03:08weak because there was a dominance of a group of technocratic profiles
00:03:12that favored
00:03:15Defense Administration in Rabat, technocratic aspects over political communication.
00:03:18Today, the first thing this government must do is communicate politically
00:03:22with citizens. Among the first files, we talked about files related to
00:03:26crises that do not respond employment, related to purchasing power, related to economic take-off.
00:03:30reducing income But I believe that among the most important files that the government must address today is the issue of
00:03:33political communication and restoring citizen confidence in the
00:03:37Moroccan political scene. We want the participation rate
00:03:40in the next elections in 2031 to be more than 31%.
00:03:44So, it must work to restore confidence to the Moroccan citizen in the political
00:03:48scene, to open up space for youth
00:03:51to train in political work within parties and also
00:03:55systems capable of within the government scene. We want
00:03:58young ministers. We do not want to repeat the same faces
00:04:02we saw in previous governments. I believe that this is the demand of most Moroccans
00:04:06who voted, and therefore today this is another challenge for these parties
00:04:10in amount, at the level of forming the next government, because new young men
00:04:14and women will give hope for change and will inject
00:04:1730. The increase in demand for new blood and give the most important thing that we expect, which is confidence in political
00:04:21action, and therefore this will be a major determinant for the next
00:04:24voting intentions in 2031, but also voting
00:04:28system whose management is linked intentions for the next municipal elections. The issue of restoring confidence in the
00:04:31political scene is not only the task of the government, but it is also the task
00:04:35of the opposition. The opposition
00:04:38readiness for positive cooperation with must also play its role as it should in following up on government work, monitoring government work,
00:04:42submitting draft laws,
00:04:45the discussion and after we deliberated on this and evaluating public policies. country. The discussions of this So today, this task
00:04:48that today is a new experience, and in this type of is shared by both the opposition
00:04:51and the government. Mr. Azraq, after
00:04:55agreeing on the participating parties, consultations are now
00:04:58factors are what affected moving to the distribution of portfolios and the nomination of government members.
00:05:02How can the political weight of parties and the requirements of efficiency
00:05:05also affirmed that this and coherence within the government team be reconciled?
00:05:09Of course, the political weight is determined by the number of seats.
00:05:14Negotiations on portfolios today indicate, according to announced intentions
00:05:18and some leaked statements, that we are heading towards a government
00:05:21with fewer ministerial portfolios than the previous
00:05:25government, in order to be a more effective and more
00:05:28convergent government at the level of public policies. However, if
00:05:32there is also a demand
00:05:35for a larger number of ministerial portfolios, this could create
00:05:38an obstacle at the beginning of this government, which could lead
00:05:42to a similar deadlock to the one that occurred
00:05:46during some previous government terms. This is what we hope
00:05:51not be wasted on discussing ministerial portfolios, because we have
00:05:55a draft financial law awaiting
00:05:58elections awaiting us, and major challenges awaiting us at the level of completing
00:06:02major projects and ongoing reform projects. So I believe that
00:06:05there must be a sense of national spirit and also
00:06:09of efficiency. How do we achieve efficiency with the fewest number of ministerial
00:06:12portfolios, and that the number is large because it poses a problem at the level of convergence,
00:06:16coordination, and coherence. But as I said, the weight today, the number
00:06:20of seats, is the main determinant for negotiation. Of course, the largest share
00:06:23will go to the Istiqlal Party and also the Authenticity
00:06:27and Modernity Party. But of course, there are some portfolios that may
00:06:31also go to these parties historically. Those that were allocated to these parties
00:06:34may return to them. We saw housing and urban planning for a period of time, it
00:06:38was a portfolio, and health was the portfolios that the Party of Progress
00:06:42and Socialism always held.
00:06:44Education or national
00:06:48parties' ministerial portfolios that the Socialist Union held. But I think that
00:06:51if there are new profiles, why not these parties get out of their
00:06:55comfort zones and go to new ministries and try new
00:06:58experiences with new profiles? This could give better
00:07:02and more efficient results. The composition
00:07:05of the government majority, after it was decided on the basis of what
00:07:09the statement described as intellectual and political convergence,
00:07:12now moves to formulating a common government program.
00:07:16To what extent will these four parties
00:07:19political consensus into a governmental contract with clear priorities
00:07:23and measurable commitments?
00:07:26program should carry is transformations and in choices and public policies
00:07:30so that it is not just an extension, but a real response
00:07:33to the challenges of the stage and, most importantly, the expectations
00:07:36of citizens. I believe today that opening the door for the participation of leftist
00:07:40parties in the government coalition sends a message that the government today
00:07:43is determined to give a greater space to social
00:07:46files, to economic files related to family and purchasing
00:07:50power, because this has always been the main file that leftist parties,
00:07:54especially the Socialist Union and the Party of Progress, advocate
00:07:57for. Progress and Socialism. So today I believe
00:08:00that these files will be prioritized, as well as
00:08:04the main files that were criticized
00:08:07against the government during the past term were the files,
00:08:11especially those related to purchasing power and employment. Therefore, I believe
00:08:15that opening the door was the first strong indication that
00:08:18we will deal with these files with a new spirit and also
00:08:21with a spirit that takes into account that dimension that was present in the opposition
00:08:25for leftist parties. And I believe that this point is credited to the government
00:08:29today and the consensus between its various components. As I told
00:08:32you, the question remains how we will implement the measures that
00:08:35we will take. For example, when we talk about strengthening purchasing
00:08:39power, will we move towards
00:08:42tax, or will we move towards capping or raising
00:08:46the minimum wage, or raising wages, or controlling
00:08:50prices and competition, and so on? So these are all mechanisms, but will there be
00:08:53an agreement on them or will some of them be chosen? This is the second challenge facing
00:08:57the government coalition. Professor Sadiq, through the map of political
00:09:00forces that these elections produced and the composition of the new majority,
00:09:04what is the nature of the parliamentary opposition that can
00:09:07be formed, and to what extent can the diversity of its
00:09:11components be a factor in strengthening oversight and accountability? Also,
00:09:14numerically, the opposition today is more powerful and will be
00:09:18more present numerically and critically
00:09:22as well. So today there is a majority of around
00:09:24207, and there is also a very strong opposition.
00:09:28This may pose a threat
00:09:30today to the government having
00:09:34greater freedom in making decisions, especially with regard to
00:09:38passing a set of laws in Parliament. And we know that sometimes there
00:09:41are absences, and therefore the government will be required
00:09:45to have its parliamentary
00:09:48members be more disciplined in terms of attendance,
00:09:51because at least this is a healthy thing. Of course, this is a healthy thing, because today,
00:09:55with the threat of the opposition numerically, it is possible
00:09:58that sometimes, if there is no strong presence from the government's
00:10:01representatives and the majority, the balance could shift in favor of the opposition,
00:10:05especially today after the National Rally of Independents, which has
00:10:09almost 67 seats, joined, in addition to the Justice and Development Party with 50
00:10:12seats, in addition to the Left with eight seats. This means
00:10:16we have a strong opposition with more weight and presence, and I believe that even their voice
00:10:20will be higher than the government's. Therefore, the government
00:10:26into account, and I believe that even the presence of a leftist component
00:10:29with a strong political weight and historical legitimacy
00:10:32may provide the government with tools and mechanisms to confront
00:10:36this opposition more effectively. The good thing is that we have a strong
00:10:40opposition and we also have a strong government majority, and I believe
00:10:44this will be in favor of developing political debate, in favor of
00:10:47developing mechanisms for monitoring and following up on government work. So today,
00:10:51I believe that the mechanisms are available for both the government
00:10:55and the opposition to carry out their roles. It remains to accelerate the transition to the implementation
00:10:59phase. I believe things have gone smoothly so far, with no blockages
00:11:02or obstacles regarding the formation of the government so far. The opposition
00:11:06is waiting to see what these consultations and government formations
00:11:10will result in, and the stages that will constitute an initial clash between the opposition
00:11:14and the government today, the draft financial law. So we are eagerly awaiting
00:11:17the start of these sessions and the discussion of
00:11:22in the Moroccan Parliament. After the elections and
00:11:26the decision on the composition of the majority, the political stage moves
00:11:30to achieve. What needs to change in government
00:11:34practice so that citizens feel
00:11:37the political scene has actually reflected on their daily lives? I believe that there are
00:11:41two levels: the first level is political communication, as I mentioned.
00:11:44The government should not work without communicating. It must communicate
00:11:49the media and have the ability
00:11:52to translate its achievements into data that citizens
00:11:55and the media can view. This was one of the shortcomings
00:11:59of the previous government. So I believe today, with
00:12:02two leftist components with political weight and the ability
00:12:06to advocate, we can
00:12:09issue that characterized the government during the past year. But another thing is that citizens
00:12:13need to feel it, not just feel the slogans,
00:12:17the discourse, the data and the statements. No, they want
00:12:21to actually feel what has changed, what has been reflected
00:12:24in their monthly salary. Is there an increase in their monthly
00:12:27income? Is there a reduction in prices? Is there an improvement in purchasing
00:12:31power? Is there an improvement
00:12:34in the quality of services in health and education? This is what citizens want
00:12:37to feel. If we had good
00:12:41at this level, of course,
00:12:45work in the political scene, and we can hope that political participation will be
00:13:05Representatives will hold a plenary session dedicated to electing
00:13:08the Speaker of the House. A statement from the temporary
00:13:11Speaker of the House of Representatives, Abdelaziz Abba, clarified that this session,
00:13:15scheduled in accordance with the provisions of Article 62 of the Constitution
00:13:18and Article 48 of the Internal
00:13:223:00 p.m.
00:13:31In implementation of the royal high instructions, the
00:13:35Directorate General of Information Systems Security, affiliated with the National
00:13:40is organizing, from today until October 14th, the National
00:13:43Cybersecurity Week. The session is organized under the slogan
00:13:47"Cybersecurity in the Service of Digital Transformation and Development" and discusses a number of
00:13:51important axes within the framework of exchanging experiences and expertise, Sihem.
00:13:59In light of the continuous acceleration of digital transformation and the increasing threats and electronic
00:14:02attacks, cybersecurity emerges
00:14:05as one of the strategic stakes
00:14:08to ensure the security of states, protect data and vital
00:14:11infrastructure. During the proceedings of this session,
00:14:15discussions focused on how to enhance digital governance and build
00:14:20confronting increasing cyber risks.
00:14:22Cybersecurity
00:14:30constitutes
00:14:33a fundamental pillar for the success of digital transformation, amidst increasing cyberattacks and accelerating use of artificial intelligence. This
00:14:37necessitates that states enhance data protection and develop
00:14:41mechanisms to counter digital threats. The topic of distinction
00:14:44is the cornerstone, and based on it, people start using these things and these
00:14:48technologies. There must be trust, and this trust is achieved by providing
00:14:52cybersecurity. As long as residents of any
00:14:55country are confident that their data is secure
00:14:59and safe, they will start using these things. Therefore,
00:15:03cybersecurity is considered a fundamental issue in any
00:15:07session revolved around a number of issues, including digital sovereignty
00:15:11and the protection of information systems, in addition to
00:15:14a number of challenges posed by the increasing use of artificial intelligence
00:15:18and modern
00:15:19technologies.
00:15:25At the African level, we need to strengthen cooperation among
00:15:28different sectors, including government institutions,
00:15:32and exchange expertise and experiences to confront
00:15:35cyber threats. Protecting one country is not enough
00:15:39if threats originate from a neighboring country, which makes
00:15:43regional coordination and cooperation a necessity to effectively
00:15:46confront these risks. Between the opportunities of technology
00:15:49and its risks,
00:15:52cybersecurity affirms its position as a fundamental element
00:15:56in protecting digital sovereignty, which makes
00:15:59enhancing international cooperation and developing specialized
00:16:01competencies two main axes in confronting cybercrimes
00:16:04that have transcended geographical boundaries
00:16:08and require continuous coordination between
00:16:10states.
00:16:20Internationally, the UN High Commissioner for Human Rights
00:16:23today urged to avoid another catastrophe after the attack on
00:16:27Riyadh Airport, noting that continued fighting would
00:16:30only lead to more suffering. Following recent Houthi
00:16:33attacks, Saudi Arabia announced the extension of the suspension of operations at Riyadh
00:16:37Airport without specifying a date for resuming operations. Developments
00:16:41on the file with Al-Hay
00:16:42Nasr.
00:16:46The Saudi-Yemeni crisis enters its most dangerous and complex
00:16:49phase in a decade, having crossed all red
00:16:52lines after the Houthis targeted vital Saudi infrastructure,
00:16:55specifically airports and energy facilities. Saudi
00:16:59authorities announced today the extension of the Riyadh airport's closure, which was subjected
00:17:03on Saturday to a series of direct missile strikes that
00:17:06resulted in the death of 18 people and the injury of more than
00:17:10300 others of various nationalities, followed by another
00:17:13attack yesterday, Sunday, which resulted
00:17:16in additional casualties. The General Authority
00:17:20of Civil Aviation of Saudi Arabia announced today in a statement
00:17:23the extension of the suspension of operational activities at King Khalid International Airport
00:17:26in Riyadh, in order to complete the necessary procedures to verify
00:17:30the safety of the airport's facilities and its operational
00:17:32readiness, without specifying a date for resuming
00:17:35its operations. The Houthi attack was condemned by the UN Security
00:17:39Council and the UN Secretary-General in the strongest terms,
00:17:43considering the targeting of civilian facilities in Saudi Arabia a blatant
00:17:46violation of international law and an escalation that pushes the region
00:17:49towards a comprehensive war. In Washington, the administration
00:17:53of President Trump hinted at the possibility of considering options for direct
00:17:56military intervention or a qualitative response to the Kingdom of Saudi
00:18:00Arabia following the fall of American casualties in the airport attacks,
00:18:03while the UN High Commissioner for Human Rights urged to avoid another
00:18:07catastrophe after the attack on Riyadh Airport, noting that
00:18:11continued fighting would only lead to more
00:18:14suffering.
00:18:17Four Palestinians were killed and others injured as a result
00:18:21of an Israeli warplane air raid south of the Gaza
00:18:25Strip that targeted a shipping point in the southern Al-Burak
00:18:28area west of Khan Younis. According to sources,
00:18:31hospitals in the strip received seven fatalities
00:18:35and 16 injured during the past 24 hours.
00:18:44Americans Robert Hall and Michael Woodford
00:18:48won the Nobel Prize in Economics today for their work on how
00:18:51to use monetary and fiscal policies to achieve greater
00:18:55stability in the economy and reduce the fluctuations that disrupt it. The researchers
00:18:59developed new models for dealing with periods of recession and other
00:19:03to traditional tools. The researcher developed new models for macroeconomics
00:19:07that enhanced the ability to apply effective policies
00:19:11to achieve stability. We return to the developments of the national
00:19:24political arena, especially the process of forming the next government.
00:19:28The meeting of the Political Bureau of the Democratic Movement Party decided
00:19:31today to adopt the option of supporting
00:19:35the next government. The proceedings of the Political Bureau meeting were followed by
00:19:39Rachid Ken and Al-Mahdi.
00:19:41The Political Bureau members discussed the developments in the national
00:19:45political arena and evaluated the results of the consultations
00:19:48conducted by the Secretary-General of the Democratic Movement Party with the head
00:19:52of the government entrusted with forming the next government. These were two
00:19:56main axes that the members of the Political Bureau of the party discussed,
00:19:59through evaluating the various political data and programs
00:20:03and taking into account the supreme interest of the nation. The Political Bureau of the
00:20:06Social Movement Party decided to adopt the option of support
00:20:10as a responsible political stance that combines
00:20:15initiatives and measures that serve the nation
00:20:18and citizens. After
00:20:22matter, it became clear to us
00:20:26situation in Morocco, where for the first time a woman heads
00:20:30the government, and also in consultation with the
00:20:33Constitutional Union Party, which we established with a joint team.
00:20:37So, it was agreed that we would go for support. The Political Bureau
00:20:43choice does not mean abandoning the party's oversight role or compromising
00:20:47on principles, but rather relies on supporting social
00:20:52and economic initiatives, and this gives us hope that
00:20:55there will indeed be good performance from the next
00:20:59government, especially since
00:21:02there are great expectations and challenges
00:21:05awaiting the Kingdom. So we hope that it will be tangible
00:21:09on the ground, and the party will assess the performance during the first
00:21:12year to see if it will continue in this
00:21:16experience or review its decision. So we hope
00:21:20sincerely that it succeeds and that
00:21:22our support will also be taken into consideration,
00:21:27in the coming months we will feel that there
00:21:30is indeed a change for the Moroccan citizen. The Political Bureau
00:21:34concluded by emphasizing that national interest and citizen
00:21:37expectations will remain fundamental determinants
00:21:40of its political positions and decisions, upholding the independence
00:21:44of its party decision and continuing to contribute to the development of institutional
00:21:47work and enhancing confidence in economic
00:21:50affairs.
00:21:53In light of global economic transformations
00:21:56and currency market fluctuations, the Moroccan dirham faces
00:21:59pressures related to foreign trade developments,
00:22:02import costs, and international currency movements,
00:22:07on the Moroccan economy and citizens' purchasing power.
00:22:12on the dirham, and to what extent can the national economy face
00:22:16these challenges? The answer is in Hassan Zaki and Abd al-Rahman's report.
00:22:25according to a basic rule, which is supply and demand, where the increase
00:22:28in demand for foreign currencies to finance imports
00:22:31versus slower or lower inflows
00:22:34of hard currency leads to pressure on the national
00:22:37currency. The dirham witnessed an unusual
00:22:41decline in its value, both in its intensity
00:22:44and duration, since weeks ago.
00:22:47The pressure came for several
00:22:51reasons. We have the first internal reason, which is
00:22:54the trade balance. Between January 1,
00:22:572026, and August 30
00:23:01last year, it is known that there was
00:23:04a deficit that increased and worsened, so that we bought the equivalent
00:23:08of 617 billion dirhams, but we only sold 334 billion
00:23:12dirhams abroad, meaning there is a deficit of almost
00:23:1582 billion dirhams, half. So we don't have enough to
00:23:19pay for the increase in our
00:23:23imports. They are affected
00:23:26by two factors. First, the rise
00:23:28of the dollar affecting
00:23:32As you know, the rise is
00:23:36related to this war between the United Arab Emirates
00:23:39and almost the closure
00:23:42of the Strait of Hormuz. This is the first
00:23:45point. The second point is the interest
00:23:48rate for the European
00:23:56exerted by imports on the dirham, Morocco has important
00:23:59sources of hard currency, primarily tourism
00:24:02and remittances from Moroccans living abroad, in addition to exports
00:24:06and foreign investments, as well as hard currency reserves.
00:24:10Mechanisms that can alleviate this pressure on the national
00:24:13currency.
00:24:16But this pressure does not mean that we are in a currency crisis. No.
00:24:22And secondly, Morocco can face it because it has
00:24:24three cards. We have hard currency reserves
00:24:28currently held by Bank Al-Maghrib,
00:24:31approximately between 43 and 45
00:24:35billion dollars, which is equivalent to about six months of imports.
00:24:39So we have a sense of security to cover all import
00:24:42scenarios. Then, secondly, tourism revenues
00:24:46up to August 30 increased by approximately
00:24:499%, reaching 98
00:24:52billion dirhams. And also the revenues and remittances
00:24:56of Moroccans residing abroad also increased
00:25:00reaching 89 billion
00:25:04dirhams as of August
00:25:07the dollar or the euro does not automatically mean that the dirham will lose
00:25:11its value sharply. The Moroccan dirham operates within
00:25:15a flexible exchange rate
00:25:18to a basket of currencies with a margin. Bank Al-Maghrib plays an important
00:25:22role in managing monetary policy and the exchange
00:25:25market. And thank God, Bank Al-Maghrib
00:25:28is managing things professionally and has set
00:25:31a French tunnel,
00:25:34from which Bank Al-Maghrib enters because, thank God, if we look
00:25:37at Morocco's hard currency resources, we have approximately
00:25:4150 billion dollars, 504 billion dirhams.
00:25:45But these external
00:25:48the exchange rate
00:25:51of the dirham, which depreciated against
00:25:54the dollar and against the euro. Between the port
00:25:57and the package, and between the import bill and tourism revenues
00:26:00and remittances from Moroccans abroad, the exchange market
00:26:04puts pressure on the dirham. This is not the result of a single
00:26:07factor, but rather a reflection of the overall balance between
00:26:10the inflows and outflows
00:26:13economy. In this equation, the strength of external
00:26:17flows, the level of reserves, and the exchange rate management
00:26:21mechanisms remain essential elements for maintaining
00:26:25the stability of the national
00:26:29topic, we are joined directly from the city
00:26:32of Tangier by Professor Rachid Sari, an analyst.
00:26:35Economist and Head of the
00:26:41currency and energy price fluctuations and geopolitical
00:26:44tensions, what
00:26:48limit the transfer of these international pressures to the exchange
00:26:51market and import
00:26:52costs?
00:27:05is a result of the increase in energy materials,
00:27:07as well as tensions at
00:27:10the Bab al-Mandab Strait and also the Strait of Hormuz,
00:27:14as well as the rise in prices of raw materials
00:27:18and energy materials. Morocco's energy bill is almost more than
00:27:2190%. However,
00:27:24this was mentioned in the report, your report, Professor Maryam.
00:27:27There are very important factors
00:27:31that make the pressure not large. Perhaps
00:27:34years ago, all the talk
00:27:38issue. In these circumstances, we would say that
00:27:41the Moroccan dirham will be exposed
00:27:44to a significant decline or fluctuations that we
00:27:47would feel. But today, the situation is that we find
00:27:51that the coverage rate or months
00:27:54of coverage is almost six months.
00:27:58Moreover, today
00:28:01hard currency that reaches 500
00:28:05billion dirhams. In addition to this, we note
00:28:07that there are two sectors that we can say
00:28:10are experiencing continuous activity
00:28:14and also on the rise. Notice with me
00:28:18that when we talk about the tourism sector, years
00:28:21ago we did not exceed 100 billion dirhams.