Minister of Economy and Finance, Nadia Fettah, presented, on Thursday, the main provisions of the draft Appropriation Bill (PLF) for the 2024 financial year to the House of Advisors.
At a meeting of the Finance, Planning and Economic Development Committee, Fettah reviewed the main measures contained in the PLF-2024, as approved by the House of Representatives, including those relating to the progressive reform of value-added tax (VAT) over three years, corporate income tax, registration duties and customs tariffs.
On this occasion, the Minister stressed that the PLF-2024 is a response to the State’s general orientations and priorities, which are reflected in the implementation of then reconstruction and rehabilitation program for areas affected by the Al-Haouz earthquake, the consolidation of the foundations of the social State, the pursuit of structural reforms and the strengthening of the sustainability of public finances.
The PLF-2024 highlights the desire to gradually reduce the budget deficit with the aim of reducing debt and strengthening financial equilibrium, she said, noting a forecast increase in current revenues of 8.5% compared with 2023, and current expenditure of 5.3%.
The House of Representatives approved the PLF-2024 by a majority of 180 votes in favor, 53 against and one abstention. Most MPs described the content of the PLF-2024 as « realistic and admissible in the context » during the discussion sessions, while others questioned « the methodology of its adoption and its degree of sustainability ».
