Highlights

Mrs. Nadia Fettah, Minister of Economy and Finance presented to His Majesty King Mohammed VI, may God assist Him, the General Guidelines of the Finance Bill for the year 2023

18/10/2022
Mrs. Nadia Fettah, Minister of Economy and Finance presented to His Majesty King Mohammed VI, may God assist Him, the General Guidelines of the Finance Bill for the year 2023

On Tuesday, October 18, 2022, (21 Rabii I 1444 H), during the Council of Ministers chaired by His Majesty King Mohammed VI, may God assist Him, at the Royal Palace in Rabat, and in accordance with the provisions of Article 49 of the Constitution, the Minister of Economy and Finance made a presentation to His Majesty the King on the General Guidelines of the Finance Bill for the year 2023.

The Minister said that this Project was developed in an unstable international context, with its repercussions in terms of inflation and disruption of production chains.

The general orientations of the Finance Bill for the year 2023 are based on four main axes:

Firstly : Strengthening the foundations of the social State, through the implementation of the various components of the Royal project for the generalization of social protection, in particular the completion of the generalization of Compulsory Health Insurance to all social categories, the gradual generalization of family allowances according to a new approach of direct targeting of disadvantaged populations, based on the Unified Social Register and the acceleration of its generalization to all regions of the Kingdom.

Simultaneously, the rehabilitation of the national health system will be pursued, increasing the funds allocated to the health and social protection sector.

It will also be the implementation of the roadmap of the reform of the education and training system, the encouragement of the full participation of women in all economic areas and the protection of their rights, as well as the integration of people with disabilities.

Considering the importance of access to housing and the guarantee of conditions for a decent life, a direct aid of the State has been introduced in this field for the benefit of the targeted categories.

Secondly: The revival of the national economy through the support of investment through the implementation of the new Investment Charter and the execution of the commitments registered in the framework of the industrial investment projects.

And in accordance with the High Royal Instructions, it will be proceeded to the operationalization of the Mohammed VI fund for the investment and to the dynamization of the public investment, which will be directed towards the projects of infrastructures and the ambitious sectoral strategies, to reinforce the competitiveness of the national product and the national food, health and energy sovereignty.

Given the role of the tax system to meet the current economic challenges and achieve the objectives expected in terms of economic recovery, the provisions of the framework law on tax reform will be implemented, able to provide more visibility to economic actors, through a comprehensive reform of the corporate tax and banking and insurance sectors, in parallel with the alleviation of the tax burden on employees and pensioners of the middle class

Thirdly: The consecration of territorial equity, through the continued implementation of the advanced regionalization project and the program to reduce spatial and social disparities.

There will also be a question of accelerating the reform of the administration through the simplification of procedures and the launch of a new national strategy of digital transition, in addition to continuing efforts in the field of administrative deconcentration and the institutionalization of the Amazigh language in all aspects of public life.

Fourthly: Restoring budgetary margins to ensure the sustainability of the reforms, by mobilizing all possible financial resources through better tax collection, the adoption of innovative financing mechanisms, the rationalization of the administration's operating expenses, the implementation of the reform relating to public procurement, the reform of the organic law relating to the Finance Law, as well as the revaluation of the public portfolio and the improvement of its performance.

The Minister indicated that this project is based on assumptions setting the growth rate at 4%, the inflation rate around 2% and the budget deficit at 4.5% of Gross Domestic Product (GDP).

A signaler qu’à l’issue des travaux du Conseil et conformément aux dispositions de l’article 49 de la Constitution, et sur proposition du Chef du gouvernement et à l’initiative de la Ministre de l’Economie et des Finances, Sa Majesté le Roi, que Dieu L’assiste, a bien voulu nommer M. Mohamed BENCHAABOUN, Directeur Général du Fonds Mohammed VI pour l’investissement.

It should be noted that at the end of the Council's work and in accordance with the provisions of Article 49 of the Constitution, and on the proposal of the Head of Government and at the initiative of the Minister of Economy and Finance, His Majesty the King, may God assist Him, has kindly appointed Mr. Mohamed Benchaaboun, Director General of the Mohammed VI Fund for Investment.