the government will mobilize the necessary funds without resorting to an LFR
The Head of Government, Aziz Akhannouch, affirmed, Monday in Rabat, that the Executive will mobilize all the financial means necessary to cover the cost of the additional subsidy of the prices of certain food materials and to follow the increase in their prices internationally. , while preserving the balance of public finances and without resorting to an amending finance law (LFR).
The government takes full care to preserve the balances of the finance law (LF) by strengthening their gradual recovery, with the mobilization of the necessary tax and customs resources, the development of innovative financing, the active management of the State portfolio, in addition to the continuation of measures to rationalize the management of the administration, indicated Aziz Akhannouch who answered a central question in the House of Representatives on “the situation of the national economy in the light of climate and geostrategic changes “.
In this context, he pointed out that the government has succeeded, thanks to monitoring and monitoring the situation of public finances at the end of 2021, in reducing the budget deficit by 1.6 points, from 7.6% gross domestic product (GDP) in 2020 to 6% in 2021. Debt thus fell by 1.5 points to 74.9% of GDP. Aziz Akhannouch also indicated that this dynamic is continuing at the beginning of this year, with an increase in tax revenue of more than 15 billion dirhams (MMDH), or 26% compared to the same period in 2021, adding that the Treasury continues to settle external debts and has not resorted so far to additional credits or a line of credit.
In this sense, the head of government assured that the preservation of a normal situation in a situation marked by unprecedented successive crises is “largely costly for the State”, noting however that it constitutes at the same time a great accomplishment. And to maintain that the preservation of Morocco of its classification by the financial rating company Standard & Poor’s, which affirmed the stable prospects of the financial balances of the Kingdom, reinforces the confidence in the sustainability of these balances within the framework of difficult context. Aziz Akhannouch also underlined that the Kingdom has accumulated significant experience in resisting successive crises and has even succeeded in turning them into opportunities for growth and development. He highlighted the government’s readiness to mobilize all possible resources to take the necessary public decisions, so that all the measures taken are compatible with the nature of the multiple shocks that supply and demand on the markets could suffer. national and international.
The Head of Government also recalled that despite the efforts made to cope with this situation, which required the mobilization of significant financial sums, the Executive continued to work on a set of commitments it made in as part of its government program.
In this regard, he mentioned the launch of a set of “promising” social and development programs, including the “Awrach” and “Forsa” programs, support for the tourism and agricultural sectors in addition to the implementation of the relating to the social register.
There was also talk, he continued, of allocating around 8 billion dirhams as an increase in the payroll, in particular to settle the status of a certain number of employees (particularly in the health sector) and inject 13 billion dirhams into the national economy to repay the arrears of credits of the Value Added Tax (VAT).
“These measures have had a positive impact on the purchasing power of citizens and have made it possible to avoid shocks to the level of prices, underlined Aziz Akhannouch, who made it known that without the support system and the various measures of a taken by the government under High Royal Instructions, the prices would have taken terrible curves”.
On the other hand, he considered that laying the foundations for a real social dialogue between the government and the social partners is the surest way to improve the social and economic climate, to find innovative solutions as well as a balanced settlement between the intervening parties.
And to conclude that the government is determined to make social dialogue a real space for creating solutions, especially in this exceptional circumstance, and to formulate social options in line with social priorities.
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