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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)

Morocco plans to spend 6.1 billion dirhams ($580 mln) up to 2026 to develop its tourism sector in order to attract more visitors and bring in hard currency, the government said on Friday.

The government plans to spend more money on marketing, develop more types of attractions for tourists, upgrade hotels and build new ones, and train more people to work in the sector, the prime minister's office said.

It aims to attract 17.5 million tourists by 2026, up from 11 million last year. In 2019 Morocco had 13 million visitors.

The plan would help create 200,000 new jobs in the sector over the next four years, the government said.

Last year, the sector's revenue more than doubled compared to 2021 to 91 billion dirhams, exceeding 2019 levels.

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ECB's Lagarde Says 2% Inflation Target in Reach

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
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ECB's Lagarde Says 2% Inflation Target in Reach

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo

The European Central Bank's inflation target of 2% is in reach, ECB President Christine Lagarde was quoted as saying in an interview published on Saturday.

In the interview with China's Xinhua news agency earlier this week which was released on the ECB website, Lagarde said financial stability was a prerequisite for price stability.

"We are within reach of the 2% medium-term inflation target that we have defined as price stability," she said, according to Reuters.

Earlier this month, the ECB lowered its inflation forecasts for this year and next in the 20-nation euro zone, projecting inflation of 2.0% in 2025 and 1.6% in the coming year.

Lagarde also that the ECB's efforts to create a digital currency were getting to the point where, if lawmakers support the proposal, it should be ready to move forward.