The Finance Bill for the year 2018 adopted in the Government Council : 17/10/2017

The Finance Bill for the year 2018 adopted in the Government Council

The government council, held Tuesday, October 17th 2017, under the chairmanship of the Head of Government, Mr. Saâd-Eddine EL OTHMANI, adopted the Finance Bill (PLF) 2018, which provides for a growth rate of 3,2% and projects to keep the budget deficit at 3%.

The Minister of Economy and Finance, Mr. Mohammed BOUSSAID, stated during his presentation before the government council that the adoption of the (PLF) 2018 comes in a context characterized by an improvement of the growth rate of around 4,6% in 2017, the value-added of the agricultural sector by more than 16,1% in comparison with 2016 and the progress of non-agricultural sectors (3,2%).

Mr. BOUSSAID stressed that the PLF 2018 has a “clear and concrete” social aspect and considers employment as a key priority, noting the creation of 20.000 other jobs through contracts in the education sector.

The Minister thus noted that between 2018 and 2019, the number of employees through contracts in the education sector is expected to be about 55.000,.He added that the budget allocated to this sector will amount to approximately 59,2 MMDH, an increase of 5 MMDH compared to 2017, whereas the health sector ‘s budget will increase to 14,79 MMDH, in addition to mobilizing more than 4.000 jobs.

Moreover, the Minister of Economy and Finance indicated that the PLF 2018 expects current budget revenues of 236,81 MMDH, an increase of 10,25 MMDH, while the current expenses will amount to 215,83 MMDH, including 108,85 MMDH for civil servants, in addition to compensation expenses up to 13,72 MMDH.

As for public investments, Mr. BOUSSAID stated that their overall amount will be close to 195 MMDH in 2018, an increase of 5 MMDH if compared to 2017. Furthermore, he noted that the Kingdom possesses strong bases and achievements thanks to the High Guidance of His Majesty King Mohammed IV May GOD assist Him, and stressed the need to increase the work pace, take profit from investment opportunities and meet Moroccans’ aspirations and requirements.

Mr. BOUSSAID also emphasized the importance to strengthen the budget effort in support of regionalization, further major reforms in the education and justice sectors as well as implement the organic law on the finance act.

The Minister also highlighted during the government council the four major strategic directions of the Finance Bill, namely the support of the social sector and industrialization, the pursuit of efforts to support public and private investments and small and middle- sized enterprises, the continuing implementation of the advanced regionalization and the reform of the administration and governance, as well as the acceleration of the reforms process.