Rabat — The Government Council adopted, here Thursday, the 2024 Finance Bill and the accompanying texts, following the adoption, on the same day, by the Council of Ministers chaired by HM King Mohammed VI, of the general guidelines of this Bill.
During a meeting chaired by Head of Government, Aziz Akhannouch, the Government Council adopted the 2024 Finance Bill No. 55.23, presented by Minister of Economy and Finance, Nadia Fettah, the Delegate Ministry in charge of Relations with Parliament said in a press release.
The Finance Bill is part of the High Royal Guidelines contained in the Speeches delivered by His Majesty the King, on July 30, 2022 on the occasion of the Throne Day, August 20, 2022 on the occasion of the anniversary of the Revolution of the King and the people and October 14, 2022 on the occasion of the opening of the 1st session of the 2nd legislative year of the 11th Legislature, the same source pointed out.
The bill aims to reflect the constant willingness of the government to continue the efforts aimed at implementing the government program (2021-2026), in accordance with the High Royal guidelines and the recommendations of the report on the New Development Model.
Internationally, the 2024 Finance Bill comes in a global context marked by uncertainty, given that the gradual recovery of the world economy following the consequences of the health crisis was impacted by the crisis in Ukraine that generated a sharp rise in food and energy prices, in addition to increasing inflation rates and disruptions of supply chains.
Furthermore, the Government Council adopted the decrees linked to the Finance Bill, relating to the delegation of power concerning financing and borrowing.
According to the press release, this is draft decree no. 2.23.900 delegating power to the Minister of Economy and Finance in matters of domestic borrowing and the use of any other financial instrument.
It is also a question of draft decree n°2.23.901 delegating power to the Minister of the Economy and Finance in matters of external financing and of draft decree n°2.23.902 aiming to delegate to the Minister of Finance Economy and Finance the power to conclude loan contracts for the repayment of onerous external debt and agreements to cover interest rate risks and currency exchange.
