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VEND 6, SAM. 7 & DIM. 8 DÉCEMBRE 2024 - N°6902 NE PEUT ÊTRE VENDU SÉPARÉMENT DÉPÔT LÉGAL 100/1991 DIRECTEUR DE PUBLICATION KHALID BELYAZID
Weekly highlights by

Le premier quotidien économique du Maroc

Pensions

Who will benefit from
the exemption?

The HCP prepares its
transformation

World Cup 2030 Public lighting

New developments
in the anti-dumping
The verdict investigation

is getting Pioneering schools

clearer Are we still on the
wrong track?

Editorial Leadership Mohamed Ali MRABI

T IME goes by, and the difficulties pile up. the run-up to an election year. Studies on the po- levers is to ensure that the various stakeholders
Structural deficit, demographic pressure, litical economy of reform show that a political adhere to the plan, by making everyone accoun-
increasing benefits... the ills of pension decision-maker is reluctant to “take the risk of fai- table. Indeed, one of the causes of the stalemate is
schemes are well known. And everyone knows lure and assume the whole process of explanation, linked to “ex ante uncertainty over the distribution
that, if nothing is done, the funds’ reserves will be negotiation... which, even if successful, ultimately of gains and losses arising from the reform”. The
exhausted in a few years’ time. takes time, energy, and often political popularity”. success of this type of change also depends on
Yet this does not seem to worry the government. Nevertheless, it would be dangerous to expect the the political support given to the project. Lasting
At least, it’s not yet considered an urgent issue. “crisis hypothesis” to be the driving force behind transformations are often driven by strong leader-
And it seems unlikely that the issue will be re- this reform. This is a strategic dossier, which must ship, with managers who have a long-term vision,
solved before the end of the current government’s never be rushed through. Especially as “the least and the ability to take short-term political risks.o
term of office. Admittedly, this is a politically successful reforms are generally undertaken has-
sensitive and socially costly reform. And govern- tily, often in response to immediate pressures”.
ments rarely venture into unpopular reforms in To speed up this major project, one of the key