Accra, Oct. 20, GNA -His Majesty King Mohammed VI has a Council of Ministers meeting devoted to examining the general guidelines of the 2024 Finance Bill and approving a bill and a draft decree relating to the military field, three international conventions and some appointments to high office, says a press release from the Royal Palace spokesman, Abdelhak El Mrini.
At the start of the Council’s proceedings and per the provisions of Article 49 of the Constitution, the Minister of Economy and Finance presented before His Majesty the King an outline of the 2024 Finance Bill.
The Minister said the preparation of the Finance Bill was against a backdrop marked by the downturn in global economic activity, persistent geopolitical tensions and rising inflationary pressures and energy prices, in addition to the impact of the painful earthquake that struck the country in September.
Morocco has demonstrated, under the wise leadership of His Majesty the King, a positive response and high effectiveness to the natural disaster.
In application of the High Royal Instructions, an integrated, multidimensional program has been drawn up, encompassing all sectors and aimed at rebuilding and upgrading the affected regions. It concerns almost 4.2 million inhabitants of the affected regions, for an estimated budget of 120 billion dirhams over five years.
The Minister added that the Finance Bill aimed to pursue the reforms launched and to implement the priorities set out in the Royal Speeches and the government programme.
The general orientations of the 2024 Finance Bill revolve around four main points:
Firstly, implementing the “Program for the reconstruction and general upgrading of the regions affected by the Al Haouz earthquake,” as well as reinforcing measures to combat cyclical impacts.
Secondly, continuing to consolidate the foundations of the Social State in particular through the implementation of the Royal social protection project, via the continued generalization of Compulsory Basic Health Insurance for underprivileged categories, in parallel with the gradual operationalization of direct social assistance starting from the end of the current year, by backing it up with the targeting system of the Unified Social Register, as affirmed by His Majesty the King in the Opening Speech to Parliament.
Thirdly, the continued implementation of structural reforms, notably through the completion of the reform of the justice system, to consolidate the rule of law and guarantee legal and judicial security, necessary for the achievement of overall development, as well as the implementation of the High Royal Instructions relating to the revision of the Family Code.
In application of the High Orientations of His Majesty the King, productive investment will be set up as an essential lever for boosting the national economy and anchoring Morocco in promising productive sectors, notably through the continued operationalization of the Mohammed VI Fund for Investment and the implementation of the new Investment Charter, to consolidate the investment dynamic and contribute to the implementation of various structuring reforms in the fields of agriculture, tourism, administrative reform and the process of administrative deconcentration and advanced regionalization.
Fourthly, the strengthening the sustainability of public finances in particular through reform of the Organic Law on the Finance Law, continued development of innovative financing, as well as enhancing the value of the public portfolio and improving its yield, by ensuring the implementation of the framework law on tax reform and the controlled and rational management of administrative operating expenses.
The Minister pointed out that the Finance Bill is based on assumptions of a growth rate of 3.7% in 2024 and a budget deficit of 4% of GDP.
After approving the general guidelines of the 2024 Finance Bill, the Council of Ministers approved a draft law and a draft decree relating to the military field.
The bill is meant to confer the status of Wards of the Nation on children who were victims of the “Al Haouz earthquake”, which struck this province on September 08, 2023, and whose impact also affected the prefecture of Marrakech and the provinces of Chichaoua, Taroudant, Ouarzazate and Azilal.
As part of Morocco’s international commitments, the Council of Ministers approved three multilateral conventions, two of which are part of the Kingdom’s gradual accession to the legal mechanisms of the Council of Europe, open to non-member States. These are the Civil Law Convention on Corruption and the Criminal Law Convention on Corruption.
The third convention concerns a protocol adopted by the International Civil Aviation Organization to extend the scope of membership of the Organization’s Council and its Air Navigation Commission.
In accordance with the provisions of article 49 of the Constitution and on the proposal of the Head of Government and on the initiative of the Interior Minister, His Majesty the King appointed some walis and governors, and the Director General of the National Agency for the Regulation of Cannabis Activities and Director of the Agency for the development of the Marchica lagoon site.
There were also appointments of ambassadors to various countries, including Jordan, United Arab Emirates, China and France.
His Majesty King Mohammed VI also approved the appointment of six Ambassadors to the United Arab Emirates, Jordan, Egypt, France, China and the United States of America.
GNA