The House of Representatives adopts in second reading the Finance Bill 2016 : 15/12/2015

The House of Representatives adopts in second reading the Finance Bill 2016

The House of Representatives adopted Tuesday, December 15th, 2015, by a majority the Finance Bill 2016 (PLF 2016), at second reading. The Finance Bill 2016 was approved by 154 votes for, 56 votes against and 24 abstentions.

In a statement to the press, Mr. Mohammed BOUSSAID, Minister of Economy and Finance, stated that the Finance Act 2016 is a key step within the scope of reforms undertaken by the Kingdom especially in the economic and financial fields. He believes that this Bill gives hope and strengthens the foundations of the Moroccan economy to join the emerging countries’ group.

"This project attaches great importance to public investment, budgetary positions, pursuing fiscal measures, and the implementation of the reform on the extended regionalization and the Organic Law on the Finance Act (LOF), "stressed Mr. BOUSSAID. He added that this project paves the way for a better and more inclusive future through the reduction of disparities between regions and within the society.

The 2016 Finance Act provides for the creation of a growth rate of 3%, further reducing the budget deficit to 3.5% and containing inflation of 1.7%, based on an estimated oil price of 61 dollars per barrel and an exchange rate of 9.5 dirhams / dollar.

​ It also aims to consolidate the foundations for a balanced economic growth continuing to support demand and the encouragement of the offer through the stimulation of industrialization, the promotion of private investment, support for the business and the acceleration of sector plans, in addition to strengthening the pillars of an integrated economic development that reduces social and spatial disparities and offer decent employment opportunities.