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Tuesday, April 23, 2024

2023 Finance Bill: Current Revenues Expected to Rise by 19% (Minister)

Current revenues will have to increase by 19% to 312 billion dirhams under the 2023 Draft Finance Bill (PLF), Minister of Economy and Finance, Nadia Fettah, said on Monday in Rabat.

Speaking before the Committee on Finance, Planning and Economic Development at the House of Councillors in the presence of Fouzi Lekjaa, Minister Delegate in charge of the budget, Fettah said that tax revenues should also increase by 32 billion dirhams compared to 2022.

On the same occasion, Fettah presented figures of the PLF-2023, including the section on financial balance, noting that non-tax revenues will rise by 50% to reach 54 billion dirhams, an increase of 18 billion dirhams.

In addition, current expenditure will increase from 262 billion dirhams to 291 billion dirhams (+11%), said the Minister, noting that the investment, for its part, will reach a value of 91 billion dirhams, an increase of 19%, which will allow to control the budget deficit to fall from 5.5% in 2022 to 4.5% in 2023.

After mentioning the context of development of the draft finance bill and its frame of reference, the Minister recalled the PLF general guidelines which are divided into four areas: strengthening the foundations of the social state, boosting the national economy by supporting investment, addressing the problem of water resources management, and recovering the financial margins to ensure the sustainability of reforms.

 

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