30 July 2014

Morocco: HM the King Receives Chairman of Economic, Social and Environmental Council, and Bank Al Maghrib Governor

Rabat — In keeping with the speech to the nation delivered this Wednesday by HM King Mohammed VI on the 15th throne day anniversary in which the Sovereign called on the Economic, Social and Environmental Council (CESE) to carry out a study of the evolution of Morocco's total wealth over the last 15 years, the Sovereign, who was accompanied by HRH Crown Prince Moulay El Hassan, received at the Royal palace of Rabat Nizar Baraka, chairman of the CESE, and Abdellatif Jouahri, governor of Bank Al Maghrib.

According to a release of the Royal office, the study will endeavor to determine the country's real value, including the intangible capital which the World Bank is adopting as a criteria to appraise the countries' wealth and other elements of national wealth.

HM the King gave instructions to the two officials to endeavor through this study to simplify the concepts and explain the criteria related to the intangible capital and update the national relevant data, so that Moroccans are given the ability to understand means and tools of wealth and job opportunities creation.

Taking into account the intangible capital's increasing role in the decision-making process, HM the King insisted on the need to take into account this capital in developing public policies and to integrate in the population's general census, scheduled to be conducted this year, indicators related to intangible wealth, the release goes on.

The Sovereign's instructions also dealt with the need for coordination among the national relevant institutions and for cooperation with the international specialized bodies in order to lend more preciseness and credibility to this study. The Sovereign further called for securing a wide dissemination of the final report and the implementation of its constructive recommendations, the Royal office release concludes.

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