Highlights

The Finance Bill 2013 adopted in the majority by the House of Representatives : 29/12/2012

The Finance Bill 2013 adopted in the majority by the House of Representatives

The Finance Bill for the year 2013 was passed by majority at second reading in the House of Representatives at the plenary session of Friday, December 28th, 2012.

The proposed budget was approved by 117 votesin favor against 48.

The Government welcomed the amendments proposed by the two Houses of Parliament. They exceeded 100 amendment anda part of which were made by the opposition, "stated Driss El Azami El Idrissi, Minister Delegate in charge of the Budget to the MAP.

These amendments improved the Bill, particularly with regard to the new tax provisions, explained Mr. El Azami El Idrissi, stressing that the budget adopted will help to accelerate the pace of investment, stimulate economic growth and encourage SMEs.

He also added in this respect the implementation of a number of social initiatives such as the Social Cohesion Fund and the program to open up isolated rural areas.

The 2013 budget anticipates a growth rate of 4.5% and a reduction in the budget deficitto 4.8%, with an average oil price of $ 105 a barrel and an average exchange rate of approximately 8.5 DH/dollar.