House of Representatives Adopts by Majority of Votes the First Part of the 2023 Finance Bill

The House of Representatives adopted, on Thursday, November 10, 2022, by a majority of votes, the first part of Finance Bill 50.22 for the fiscal year 2023. The adoption occurred during a legislative plenary sitting chaired by the Speaker of the House of Representatives, Hon. Rachid Talbi El Alami. The sitting was attended by the Minister of Economy and Finance, Ms. Nadia Fettah Alaoui; the Minister Delegate to the Minister of Economy and Finance in Charge of the Budget, Mr. Faouzi Lekjaa; and the Minister Delegate to the Head of Government in Charge of Relations with the Parliament and Government Spokesperson, Mr. Mustapha Baïtas.

During the sitting, 183 Representatives voted for the first part of the Finance Bill, while 70 voted against it. The sitting also featured the discussion of the amendments presented by the Government and the Majority and Opposition Groups of the House, which amounted to 209 amendments.

The general orientations of the 2023 Finance Bill aim to consolidate the bases of the social welfare State, revive the national economy by encouraging investments, address water management problems, and recover fiscal margins to guarantee the sustainability of reforms.

In the elaboration of the 2023 Finance Bill, the Government relied on several scenarios, including the increase of external demand (except for phosphates and its derivatives) by 2.5%, an agricultural crop of around 75 million quintals, an average gas price of 800$/ton, and an average euro-to-dollar exchange rate of 1.044. The Government also foresees a development rate of 4%, a budget deficit of 4.5% of the GDP, and an inflation rate of 2%.

The sitting of Friday, November 11, 2022, will be dedicated to the presentation of the reports of the Standing Committees on draft sectorial budgets. In addition, the second part of the Finance Bill will be discussed and put to the vote along with the entire text during the same sitting.