The reform of the Organic Law relating to Finance (LOF) will "frame and reinforce the transparency of public policy," allowing " the Parliament`s greater control of the veracity of the figures and the objectives set by the government," claimed Mr. Nizar Baraka, Minister of Economy and Finance in an interview published by the newspaper ""Finances News Hebdo" " issued Friday, September 14th 2012.
"We will be part of a management strategy based on result where a multiannual planning of government programs is identified. The objectives assigned will be clear and we shall have performance indicators which make it possible to ensure that the goals were achieved or not",
The LOF will also provide the territorialization of the budget within the framework of the new advanced regionalization, and "it will allow us to be part of a contractualizing process between the State and the regions," he added.
The LOF reform will strengthen parliamentary control, since "the parliament will have access to more information related to payroll, compensation, debt, etc., so as to be aware of the accounts of the State and finances, but at the same time to accompany us through budgetary regulation act and in the control of the objectives set by the government, " specified Mr. Baraka.
The implementation of the LOF program, requiring a participatory approach of the country`s human potential (parliament and trade unions), will be postponed to 2014, he announced.
As regards the budget deficit which must be brought back to 3% in 2016, the treasurer of the Kingdom stressed the importance of a "pragmatic approach integrating receipts and expenditures", stating that its department prepares for conferences on taxation to be held next February.
He stressed, in this regard, the importance of an incentive policy for economic sectors, while insisting on the issue of compensation which should allow to«setting a ceiling on compensation progressivelyto a certain point ".
He also emphasized the need to improve the relationship of public institutions transfer through the development of public-private partnership and adopt measures for better investment.