Government unlikely to readjust Finance Bill 2022 despite unrealistic goals

Specialist in economic affairs, Mahdi fakir said Morocco’s government will unlikely amend the Finance Law for 2022, despite a looming drought that threatens much of the assumptions Aziz Akhannouch’s cabinet made when it joined the government.

The Finance law is built upon the assumption that the average grain yield would reach 80 million quintals this year – almost impossible with the current rain deficit, and accompanying drought.

The economic expert cited in a statement to Hespress similar economic pressure experienced in 2020. He said despite the economic recession driven by the pandemic the then leading PJD government did not resort to amending the Fiance Bill.

He said King Mohammed VI in moments of crisis by setting funds and issuing government directives limits the need to readjust goals in the Finance Bill.

 Resorting to an amendment “would be a negative signal internally and externally,” adding that the government’s choice to do so “would be unfavorable and would harm its reputation.”

 “Technically, I do not think to do so, especially since Morocco does not want to risk its budget and reputation,” he said.

Previously, opposition groups in the House of Representatives have called the Ministers of Interior, Water, Agriculture, and Economy to meetings of four permanent committees to discuss the repercussions of the current drought.

In the majority of government, the Political Bureau of the Authenticity and Modernity Party had called for an urgent meeting of the parties to study the negative repercussions of the delay recorded in rainfall.

Meanwhile, the Popular Movement Party last week called on the government to “present a draft amendment to the Finance Law as soon as possible to review the expectations and indicators, and to reconsider its orientations.”