The Council of Government adopts the 2012 Finance Bill : 08/03/2012

The Council of Government adopts the 2012 Finance Bill

The Council of Government held Thursday, March 8th 2012, chaired by the Head of Government, Abdelilah Benkirane, adopted the Finance Bill for the year 2012.    

    The objective of the 2012 Finance Bill is to achieve a growth rate of 4.2% and to reduce the budget deficit to 5%. It provides 93.5 billion dirhams for wages.

The aforementioned project expects to strengthen support for social development programs, devoting 51 billion dirhams to education, 12 billion dirhams to health,3 billion dirhams to housing, 2.6 billion dirhams to the rural world opening up, one billion dirhams to the Rural Development Fund, 2.3 billion dirhams to the National Initiative for Human Development (NIHD).

As to the social support Fund, Mr. Mostafa El Khalfi, Minister of Communication and the Government spokesman mentioned that 2 billion dirhams were spent on expanding medical care program, supporting disabled people and to the expense of school drop out, indicating that it is funded with 1.5% of businesses net income sourcing more than 200 million dirhams. This provides 1.2 billion dirhams to which must be added 350 million dirhams (insurance Fund) and 1.6% of cigarettes tax.

The mobilisation of 188 billion dirhams for the benefit of public investment will also be carried out. while enhancing efficiency in public spending, through the reduction of 50% of accommodation and hotel services, reception and official ceremonies, and by implementing the commitments of social dialogue and those relating to employment.

Mr. El Khalfi pointed out that this program outlined the guidelines of economic development. It expected the social and administrative services development and the reinforcement of good governance contained in the Council of government`s last meeting.