The finance bill (PLF) for the 2023 financial year sets four main priorities, considering the High Royal Guidelines contained in the Speech from the Throne and reflecting the commitments of the government program, according to the framework note of the said project sent by the Head of government to ministerial departments.
It is a question of strengthening the bases of the social State, of relaunching the national economy via support for investment, of enshrining spatial justice and recovering the financial leeway to guarantee the sustainability of the reforms, specifies this rating.
“The world has been experiencing successive crises since 2020, with the appearance of the covid-19 pandemic and its global health, economic and social repercussions. Morocco, under the enlightened and visionary leadership of King Mohammed VI, has succeeded in overcoming these crises and limiting their impacts through a proactive and effective policy.“, says the same source.
He added that this policy has made it possible to preserve the stability of the pandemic situation, support for affected households and businesses, in addition to the launch of major reforms relating to the generalization of social protection and the revival of the national economy via the creation of the Mohammed VI Fund for Investment and the reform of the public sector.
These measures had a positive impact on the Kingdom’s macroeconomic situation, with the growth rate reaching 7.9% at the end of 2021. A trend that continued at the start of 2022, through the reopening of national borders last February, which allowed several economic sectors such as tourism and air transport to gradually resume their activities.
However, with these first signs of economic recovery and before the remission of the economic and social effects of the global health crisis, a crisis of rising prices has emerged on an international scale, which has grown further following the outbreak of the Russian-Ukrainian crisis at the beginning of 2022, constituting a strong shock to the world economy, in the wake of inflationary pressures which affected both advanced and emerging economies.
Inflation rates reached, in the first half of 2022, unprecedented levels in the majority of countries, due to the increase in the prices of food products and raw materials and energy.
At the same time, the year 2022 was marked by the scarcity of rainfall, Morocco having experienced the harshest drought crisis for 40 years, with what this requires in terms of mobilization to support the rural areas affected and the intervention in with the urgency and efficiency needed to manage water scarcity.