Morocco: The government expects a growth rate of 4.4%
21 October 2014
Read by 1758 persons
The Moroccan government has just announced its ambition to keep the budget deficit at 4.3% of GDP at the end of 2015, in line with a growth rate of 4.4%.
Reaching this objective depends on several factors, including an average dollar exchange rate of 8.6 dirhams, an average oil price of 103 dollars per barrel, and an average butane gas price of 804 dollars per tonne.
The 2015 Finance Bill (PLF) provides for a wage bill of 105.509 billion DH, or 10.8% of GDP, compared to around 86 billion DH in 2011. An envelope of 189 billion DH has been allocated, under the 2015 Finance Bill, to public investment, which includes the administration, public institutions and local authorities, compared to 186.6 billion DH last year and 167 billion DH in 2011. This increase is clearly more significant in the investment budget allocated to the public administration, which has increased from 49.5 billion DH in 2014 to 54.09 billion DH for 2015.
The government also plans, as part of this project, compensation expenditure estimated at 23 billion DH. The operating budget will be reduced and nearly 189 billion dirhams will be allocated to investment. A boost will be given to investment and employment through two flagship measures:
Lowering the threshold for the conventional regime to 150 million DH and a double advantage to encourage job creation for VSEs. From January 2015, VSEs that create jobs will be exempt from income tax, corporate tax and employer contributions for two years. This double advantage will be granted for a maximum of five jobs. The hope is to encourage these small businesses to emerge from the informal sector. Regarding investment, the conventional regime will be reduced to 150 million DH compared to 200 million currently.
The 2015 Finance Bill also continues the VAT reform initiated in 2014. The VAT applied to the prices of several consumer goods (electricity, rice, butter, tea, etc.) should increase to 20% from 2015.
Nearly 22,500 budget positions will be created. The Moroccan Ministry of the Interior is taking the lion's share of jobs, while the head of the Moroccan government is increasing the Culture budget by 15%. With 7,600 positions planned by the 2015 Finance Act, the Ministry of the Interior has thus overtaken the Ministry of National Education (7,200 positions) and the Ministry of Health (2,000 positions). The number of positions planned by the 2015 PLF is around 22,500, an increase of 4,000 positions compared to the 2014 Act.
The 2015 Finance Bill also includes a series of measures concerning 79 new projects in the field of solidarity agriculture (Green Morocco Plan), the implementation of investment programmes relating to power stations, planned under the national energy strategy, for approximately 14.3 billion DH, or other plans such as tourism and maritime fishing plans.
On the social level, this project has allocated funds for the implementation of several social programmes. Thus, an envelope of 46.3 billion DH is allocated to national education and vocational training, in addition to the 9 billion DH allocated to higher education, scientific research and executive training, including 1.65 billion DH for scholarships, the health sector which will benefit from 13 billion DH, and housing through the diversification of supply, particularly concerning new towns, and the treatment of the problem of dilapidated housing.
(Source: Xinhua)
French.peopledaily.com
Published on October 21, 2014.
Posted online on October 21, 2014.
Reaching this objective depends on several factors, including an average dollar exchange rate of 8.6 dirhams, an average oil price of 103 dollars per barrel, and an average butane gas price of 804 dollars per tonne.
The 2015 Finance Bill (PLF) provides for a wage bill of 105.509 billion DH, or 10.8% of GDP, compared to around 86 billion DH in 2011. An envelope of 189 billion DH has been allocated, under the 2015 Finance Bill, to public investment, which includes the administration, public institutions and local authorities, compared to 186.6 billion DH last year and 167 billion DH in 2011. This increase is clearly more significant in the investment budget allocated to the public administration, which has increased from 49.5 billion DH in 2014 to 54.09 billion DH for 2015.
The government also plans, as part of this project, compensation expenditure estimated at 23 billion DH. The operating budget will be reduced and nearly 189 billion dirhams will be allocated to investment. A boost will be given to investment and employment through two flagship measures:
Lowering the threshold for the conventional regime to 150 million DH and a double advantage to encourage job creation for VSEs. From January 2015, VSEs that create jobs will be exempt from income tax, corporate tax and employer contributions for two years. This double advantage will be granted for a maximum of five jobs. The hope is to encourage these small businesses to emerge from the informal sector. Regarding investment, the conventional regime will be reduced to 150 million DH compared to 200 million currently.
The 2015 Finance Bill also continues the VAT reform initiated in 2014. The VAT applied to the prices of several consumer goods (electricity, rice, butter, tea, etc.) should increase to 20% from 2015.
Nearly 22,500 budget positions will be created. The Moroccan Ministry of the Interior is taking the lion's share of jobs, while the head of the Moroccan government is increasing the Culture budget by 15%. With 7,600 positions planned by the 2015 Finance Act, the Ministry of the Interior has thus overtaken the Ministry of National Education (7,200 positions) and the Ministry of Health (2,000 positions). The number of positions planned by the 2015 PLF is around 22,500, an increase of 4,000 positions compared to the 2014 Act.
The 2015 Finance Bill also includes a series of measures concerning 79 new projects in the field of solidarity agriculture (Green Morocco Plan), the implementation of investment programmes relating to power stations, planned under the national energy strategy, for approximately 14.3 billion DH, or other plans such as tourism and maritime fishing plans.
On the social level, this project has allocated funds for the implementation of several social programmes. Thus, an envelope of 46.3 billion DH is allocated to national education and vocational training, in addition to the 9 billion DH allocated to higher education, scientific research and executive training, including 1.65 billion DH for scholarships, the health sector which will benefit from 13 billion DH, and housing through the diversification of supply, particularly concerning new towns, and the treatment of the problem of dilapidated housing.
(Source: Xinhua)
French.peopledaily.com
Published on October 21, 2014.
Posted online on October 21, 2014.
