PAM's 2026 Economic Program: Lekjaa's 350 Billion Dirham Plan
Fouzi Lekjaa unveiled the PAM party's economic and social platform for the September 23 elections in Agadir and before Morocco's employers' federation CGEM, backed by a 350-billion-dirham, five-year budget.
Fouzi Lekjaa, Minister Delegate for the Budget and a senior figure in the Party of Authenticity and Modernity (PAM), unveiled his party's economic and social program this weekend ahead of the legislative elections scheduled for September 23, 2026. Backed by a budget of 350 billion dirhams over five years (2026-2031), averaging 70 billion dirhams a year, the program was presented in two stages: first in Agadir on September 12, alongside Abdellatif Ouahbi and Younes Sekkouri and the party's candidates in the Souss-Massa region, then before Morocco's employers' federation, the CGEM, on September 13.
Ambitious economic targets
PAM's program is built around a 5% growth target, with an employment elasticity estimated at 0.53 — meaning each additional point of growth could create around 53,000 jobs. It also aims to raise the share of renewable energy in installed power capacity from 46% currently to 52%.
How the 350 billion dirham budget breaks down
| Focus area | Budget |
|---|---|
| Purchasing power | MAD 150 billion |
| Education and health | MAD 100 billion |
| Youth, training and housing | MAD 50 billion |
| Economic sovereignty and infrastructure | MAD 50 billion |
Concrete social measures
The program proposes setting the minimum retirement pension at 3,000 dirhams a month, while keeping the full pension for widows after a spouse's death, along with raising the income of active employees by between 1,500 and 4,000 dirhams a month depending on their situation and income level. The party also pledges to cut income tax on wages and revise the pricing margins of basic goods between producers and consumers.
Business climate and employers' reaction
On the business front, the program promises to simplify investment procedures, which currently take around 18 months, by replacing the prior-authorization system with a specifications-and-compliance model, alongside dedicated financing for small and medium enterprises combining credit, technical support and governance, and extending SMEs' share of public procurement to 30%. CGEM president Mehdi Tazi welcomed the program, saying 90% of the private sector's priorities are reflected in it, while proposing to mobilize between 3 and 4 billion dirhams from late-payment penalties to guarantee financing for small businesses, and calling for a cut in corporate tax, currently set at 35% for large companies. Lekjaa said the program's financing would rely on expected growth revenues (around 300 billion dirhams over five years), a broader tax base and a crackdown on the informal economy, without raising taxes on citizens.