Rabat – King Mohammed VI presided on Thursday a council of ministers, which examined Morocco’s 2024 Finance Bill, in addition to other matters.
Spokesperson of the Royal Palace Abdelhak Lamrini released a statement adding that the meeting touched on various other topics such as the ratification of international agreements and appointments in official positions.
The country’s Minister of Trade and Finance, Nadia Fettah Alaoui, presented the 2024 Finance Bill to the monarch during the meeting, the statement adds.
The minister said the new bill was prepared in a context marked by a global recession in economic activity and persisting geopolitical tensions, as well as the devastating September 8 earthquake.
The bill is centered around four main axes, dealing with the earthquake-affected areas, social protection, systemic reforms, and public finance.
The bill will expedite the implementation of the rehabilitation plan for the areas affected by the Al Haouz Earthquake through the High Atlas Development Agency.
The funding would come from the state budget, as well as the national solidarity fund for the earthquake and international aid and funding.
The bill also gives priority to the management of water resources for both drinking and irrigation, as well as other agricultural resources to minimize the effect that could befall Moroccan citizens and farmers.
It also includes provisions related to the generalization of social protection in the country, as instructed by King Mohammed VI during his recent parliament opening speech.
The program would include 60% of families not currently enrolled in social protection systems, with each family slated to get at least MAD 500 (nearly $50) in direct financial aid, the statement says.
The social protection program is also set to be complemented by a legal framework to improve the national health and education systems.
The third axis of the finance bill concerned “systemic reforms” to various frameworks in the country, including the judicial system and the planned revisions to the country’s family code, also known as the Moudawana.
In a speech on October 13, King Mohammed VI underlined the importance of the reforms and the fundamental significance of family unity in society.
Lastly, the finance bill tackled “the sustainability and balance of public finance,” through reforming financial regulations, facilitating “innovative financing,” and improving the state of public funds, according to the statement.
Nadia Fettah specified that the Finance Bill is built on estimations of a 3.7% growth in 2024.
The council of ministers meeting also significantly saw the King appoint several new ambassadors to countries such as France, the US, and China.
He appointed Moroccan diplomat Youssef Amrani as Ambassador to the US, Samira Sitail as the new Moroccan ambassador to France, and Abdelkader El Ansari as Morocco’s ambassador to China.
