The Minister of Economy and Finance, Mr. Mohammed BOUSSAID, hosted Saturday, January 10th
, 2015 in Casablanca, a conference-debate under the theme "the 2015 Finance act: Towards an emerging Morocco.
Initiated by the High Institute of Commerce and Business Administration (ISCAE), this meeting was characterized by the presence of the Wali of the Grand Casablanca region, governor of the prefecture of Casablanca, Mr. Khalid Safir, the governor of the prefecture of the Ain Chock district, Mr. Mohammed Kadri, the Mayor of the city of Casablanca, Mr. Mohammed Sajid as well as politicians and economic actors.
In his speech, the Minister stressed that the preparation and discussion of the Finance Act is "an important event" in the history of countries, in that it represents an opportunity to assess economic development and the general guidelines as well as constraints and measures to be adopted.
Mr. BOUSSAID who reviewed the broad outlines of the finance act 2015 as well as the significant projects being implemented by Morocco, noted that this law is based on fundamental pillars, namely the recovery of the national economy, the improvement of competitiveness, the promotion of the private sector investment, the support for the company, the reinforcement of social cohesion, the reduction of the social and space disparities and the promotion of employment.
“The finance act 2015 devoted nearly 130 billion dirhams (MMDH) of the overall general budget to strengthening social sector based programs, 4 MMDH for the social cohesion fund and more than 20 MMDH to rural areas” affirmed the Minister by specifying that it expects a growth rate of around 4, 4% and seeks to bring back the budget deficit to 4.3% of (GDP) in line with the government program.
Mr. BOUSSAID also explained that these objectives are set on the basis of GDP growth rate assumptions of 4,4% in 2015, of an average exchange rate of 8.6 DH/dollar and of an average price of oil of 103 dollars a barrel.
In addition, the Minister noted that the Government focuses on employment, adding that the finance act for the year 2015 also provides for the creation of more than 22,500 budget items.
In conclusion, Mr. BOUSSAID outlined the plans and steps introduced in this new finance act to make it a turning point in the process of the consolidation and the renewal of the Moroccan economic development model, with a view to access the assembly of the emerging countries.