Council of Government of Wednesday, October 19, 2022
On Wednesday 22 Rabii 1 1444, corresponding to October 19, 2022, the government held a cabinet, chaired by Head of Government Mr. Aziz Akhannouch, devoted to the deliberation and approval of the draft finance law for the 2023 financial year, its accompanying texts, and a draft decree.
After the Council of Ministers, chaired by His Majesty King Mohammed VI, may God assist him, approved, Tuesday, October 18, 2022, the main orientations of the draft finance law 2023, the Council of Government , meeting Wednesday, deliberated on the details of this project and approved it. This bill has been prepared in accordance with the royal directives contained in the speeches of His Majesty the King, may God assist him, and reflects the boldness of the government's program which is in line with the results of the new development model.
Thus, the 2023 Finance Bill adopts priorities that can be summarized in four axes: consolidating the pillars of the social state; revive the national economy by supporting investment; consolidating regional justice; and restoring financial margins to ensure the sustainability of reforms. Given the evolution of the international context and national economic and financial developments, the draft finance law for the year 2023 was drafted on the basis of assumptions that determine the growth rate at 4%, the inflation rate at 2% and the budget deficit at 4.5%.
Thus, the draft finance law for the year 2023, as requested by His Majesty the King, may God assist him, constitutes a real consolidation of the pillars of the social State, an effective launch of the provisions of the new National Investment Charter, and a response to the requirements of a decent life for all citizens.
Press release (Arabic version) in annexes
The Council of Government also deliberated and approved the decrees relating to the draft finance law, relating to the delegated competence in matters of financing and borrowing, and the following matters:
Draft Decree No. 2.22.806 delegating powers to the Minister of Economy and Finance with regard to internal borrowing and recourse to any other financial instrument.
Draft Decree No. 2.22.807 delegating powers to the Minister of Economy and Finance in matters of foreign financing.
Draft Decree No. 2.22.808 delegating to the Minister of Economy and Finance the conclusion of loan contracts for the repayment of costly external debts and interest rate and exchange rate risk guarantee agreements.
The Council of Government continued its work by deliberating and approving draft Decree No. 2.22.818 suspending the collection of import duties on domestic cows, presented by Mr. Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget.
This project counteracts the impact of the water shortage our country experienced this year, the increase in feed prices due to fluctuations in the international market and the increase in red meat production costs.
This project aims to ensure a normal supply of beef on the local market, by stopping the collection of import duties applicable to the import of domestic bovine animals of meat production breeds weighing at least 550 kilograms, until 31 December 2023. This measure covers a number of cattle that represent only a small percentage of national production, and their import will not have a negative impact on the red meat sector in Morocco. This procedure also applies to domestic bovine species intended directly for slaughter, depending on how they will be specified in a notice to importers.
