Forecast increase in ordinary revenue of nearly 50 billion dirhams

Ordinary revenue should increase, under the 2023 finance bill (PLF), by nearly 50 billion dirhams (MMDH) compared to the 2022 finance law, an increase of 19%, indicated, Thursday in Rabat, the Minister of Economy and Finance, Nadia Fettah.

The Minister, who presented the main lines of the PLF-2023 during a plenary session of the two Chambers of Parliament, stressed that the sustainability of the reforms requires guaranteeing all the possible financial margins, through the mobilization of tax revenues and continued management of innovative financing.

It is also a question of rationalizing the administration’s ordinary operating expenses, implementing the reforms of public procurement and of the organic law relating to the finance law, in addition to rationalizing the management of the public portfolio and improving its performance,” added the Minister.

In this regard, Nadia Fettah indicated that tax and customs revenue should increase by 14.5%, estimating that the reform of public establishments and the active management of the public portfolio – after the establishment of the dedicated Agency to this end, will make it possible to increase these revenues by 39% to achieve a gradual reduction in the budget deficit and consequently reduce the debt to 70% of the gross domestic product (GDP).

The Minister also noted that given the financial effort required by the various projects planned in the PLF-2023 and the global situation, national economic growth should stand at 4%, with an inflation rate of 2% and a budget deficit of 4.5%.

These forecasts, she argued, are based on the assumptions of an increase in external demand (excluding phosphates and derivatives) of only 2.5%, a cereal harvest of 75 million quintals and an average gas price $800/ton butane.

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