Government Spending Cuts and 21,000 New Jobs
15 October 2009
Read by 1467 persons
The 2010 Finance Bill includes a 5.4% increase in the wage bill and the creation of more than 21,000 budget positions, but a 10% reduction in operating expenses.
The government will reduce its spending in 2010. The Finance Bill proposes a 10% reduction in operating expenses, bringing them down to 135.7 billion DH instead of 150.8 billion DH in 2008. Despite this decrease, the government plans to increase the wage bill by 5.4% and create over 21,000 budget positions, for a total of 80 billion DH. The budget for subsidies will be reduced by 63%, reaching 13 billion DH. Despite the difficult economic situation, the government intends to invest. The budget allocated to capital expenditure will increase by 18.22%, rising from 45.15 billion DH to 53.38 billion DH. This is in addition to the expenditure of public companies and institutions, which should grow by 25% to reach 111 billion DH. In total, public investment will increase by 22%, from 135 billion DH to 164 billion DH. This considerable increase in public investment will allow the implementation of the strategies launched by the government throughout the year. In October alone, three major projects requiring substantial budgets were launched: Halieutis, Maroc Numeric, and the framework contracts with universities. Regarding revenue, the government anticipates a decrease of nearly 26 billion DH, mainly due to a 10% reduction in direct taxes and similar levies, a 13.22% reduction in customs duties, a 20% reduction in revenue from loans, grants, and bequests, and a 9.88% reduction in registration and stamp duties.
Privatization, however, should generate a surplus of 4 billion DH. By ministry, the budget allocated to foreign trade will increase from 7 to 262.7 billion DH, a rise of 3402.7%. Second, the budget of the Ministry of Youth and Sports will grow by 45% to reach 912 million DH. Third, the Ministry of Justice will see a 42.7% increase, reaching 334.1 million DH. These three departments all have one thing in common: large projects planned on paper that are waiting to be implemented on the ground.
Published October 14, 2009
Posted online October 15, 2009
aujourdhui.ma
The government will reduce its spending in 2010. The Finance Bill proposes a 10% reduction in operating expenses, bringing them down to 135.7 billion DH instead of 150.8 billion DH in 2008. Despite this decrease, the government plans to increase the wage bill by 5.4% and create over 21,000 budget positions, for a total of 80 billion DH. The budget for subsidies will be reduced by 63%, reaching 13 billion DH. Despite the difficult economic situation, the government intends to invest. The budget allocated to capital expenditure will increase by 18.22%, rising from 45.15 billion DH to 53.38 billion DH. This is in addition to the expenditure of public companies and institutions, which should grow by 25% to reach 111 billion DH. In total, public investment will increase by 22%, from 135 billion DH to 164 billion DH. This considerable increase in public investment will allow the implementation of the strategies launched by the government throughout the year. In October alone, three major projects requiring substantial budgets were launched: Halieutis, Maroc Numeric, and the framework contracts with universities. Regarding revenue, the government anticipates a decrease of nearly 26 billion DH, mainly due to a 10% reduction in direct taxes and similar levies, a 13.22% reduction in customs duties, a 20% reduction in revenue from loans, grants, and bequests, and a 9.88% reduction in registration and stamp duties.
Privatization, however, should generate a surplus of 4 billion DH. By ministry, the budget allocated to foreign trade will increase from 7 to 262.7 billion DH, a rise of 3402.7%. Second, the budget of the Ministry of Youth and Sports will grow by 45% to reach 912 million DH. Third, the Ministry of Justice will see a 42.7% increase, reaching 334.1 million DH. These three departments all have one thing in common: large projects planned on paper that are waiting to be implemented on the ground.
Published October 14, 2009
Posted online October 15, 2009
aujourdhui.ma
