The House of Representatives adopted by a majority the Amended Finance Bill No. 35.20 for the financial year 2020, at a plenary session held Monday evening.
The bill, approved by 67 deputies and rejected by 44 others, aims to establish mechanisms to support the gradual recovery of economic activity, to preserve employment through practical measures to improve the efficiency of the administration and to speed up the implementation of administrative reforms.
Speaking on this occasion, Minister of Economy, Finance and Administrative Reform, Mohamed Benchaaboun, insisted on the strong presence of the social dimension in this law project.
This bill ensures the continuation and reinforcement of the social priorities determined by the initial 2020 finance law and this, through the implementation of measures to support the health sector, to improve the purchasing power of families and support businesses to preserve jobs, he pointed out.
The minister also stressed that the approach adopted by the government is far from that of austerity or the management of balances, which remain important.
Despite the expected drop in revenues of 40 billion dirhams, investments in the General State Budget were increased to 7.5 billion dirhams through the review of priorities in terms of spending.
While investment in the social sectors will continue at the same rate, Benchaaboun noted the new programming of the investment budget of ministerial departments and institutions which has been revised to take into account the impacts triggered by the health crisis linked to the coronavirus pandemic and the revision of the planning schedule for some projects, taking into account the drop in the rate of the implementation of these projects as well as the postponement of the procedure for launching some projects due to the absence of the conditions required.
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