Morocco has appointed Fouzi Lekjaa, head of the football federation, as finance minister in a new government led by Prime Minister Fatima Ezzahra El Mansouri. Lekjaa, 56, takes charge of economy, finance, and a newly created public efficiency portfolio aimed at streamlining the state sector. His appointment comes as Morocco prepares to co-host the 2030 FIFA World Cup with Spain and Portugal, while grappling with fiscal constraints and rising public demand for social investment.
Lekjaa pledged to increase annual spending by 70 billion dirhams ($7.2 billion) through 2031, focusing on job creation, wage and pension hikes, and lowering living costs. However, Morocco will lose access to innovative financing mechanisms—such as selling state property to local funds—which raised $4.2 billion in 2025. The 2027 budget is expected next week.
The government’s mandate follows the first parliamentary elections since the 2025 Gen Z protests, which highlighted economic inequality and poor public services. With 76% of households reporting declining living standards, and the IMF urging fiscal consolidation, Lekjaa faces a complex challenge amid energy price volatility and regional instability.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing