Industry

Morocco plans to increase its military spending in budget

October 23, 2024, 7:54 AM

RECORD DATE NOT STATED Members of Royal Moroccan Armed Forces stand at attention during the visit of U.S. Army Maj. Gen. Michael Turley, adjutant general, Utah National Guard, and Moroccan officials, Sept. 21, 2022, in Kenitra, Morocco, during joint exercise Maroc Mantlet. The Royal Moroccan Armed Forces soldiers were part of the ceremony in conjunction with the distinguished visitor demonstrations. Maroc Mantlet benefits both the United States and Morocco in building a stronger partnership. Utah and Moroccan service members training and learning together improve security, professional relationships, and also tactics and techniques. Copyright: xpiemagsx dvidspieseptoct2022-22265 ACHTUNG AUFNAHMEDATUM GESCHƒTZTNo Use Switzerland. No Use Germany. No Use Japan. No Use Austria military — Additional military spending will go towards modernising equipment for Morocco's Royal Armed Forces

Draft law increases spending by 6%
Funding to modernise equipment
Development of industry in pipeline

Morocco is planning to increase its military spending by 6 percent next year, as it looks to improve national security and modernise its local capabilities.

The defence budget in Morocco’s 2025 Finance Law will be MAD133 billion ($13.4 billion), an increase on the MAD124 billion in the current year’s budget.

The Minister of Economy and Finance, Nadia Fettah Alaoui, presented the proposed defence budget – part of the draft finance law – during a joint session of parliament on Saturday.

The extra funding will go towards modernising the Royal Armed Forces’ equipment, local media reported.

The increased budget will also go towards developing Morocco’s local defence industry.

Morocco’s National Defence Administration said it intends to develop as a centre for production of defence mobility equipment.

In June, two defence industrial acceleration zones were established, which will host industries related to defence and security equipment and mechanisms, weapons and ammunition systems.

Morocco’s Department of Defence recently signed an agreement with India’s Tata Group to build armoured combat vehicles in the North African country.

Under the agreement, Tata Advanced Systems, a subsidiary of the Indian conglomerate, will produce Tata’s WhAP 8×8 wheeled amphibious armoured platform in Morocco.

The production facility will be in Casablanca and is expected to be operational within 12 months.

Global military expenditure jumped 6.8 percent from 2022 to a record high of $2,443 billion in 2023, the Stockholm International Peace Research Institute (SIPRI) said earlier this year.

For the first time in its 60-year history, the institute reported a rise in military outlay in all five of the geographical regions defined by SIPRI.

Spending as a share of GDP rose the highest in the Middle East (9 percent) to an estimated $200 billion, the report said, followed by states in Europe (2.8 percent), Africa (1.9 percent), Asia and Oceania (1.7 percent) and the Americas (1.2 percent).