Mr. Fawzi Lakja, Deputy Minister to the Minister of Economy and Finance in charge of the budget, revealed that the government has, during the current year, allocated additional funds by decree amounting to 28 billion dirhams to address the repercussions of price volatility for certain raw materials and rising inflation caused by the war in Ukraine.
In response to a written question submitted by the National Union of Moroccan Workers, the minister noted that this measure falls within the executive branch’s authority to make adjustments to state budget expenditures approved during the implementation of the Finance Act, in accordance with the conditions and framework set forth in the Organic Law on the Finance Act, with the aim of providing it with the necessary means to ensure the normal functioning of state institutions and the continuity of public services, as has been the case this year.
In the same vein, the government official explained that the revenue projections in the Finance Act are based on a set of assumptions linked to the economic and financial conditions prevailing at the time the draft Finance Act was prepared, This explains the discrepancies between projections and actual results due to changes in circumstances during the implementation of the Finance Act. Additionally, some non-tax revenues are of an emergency and extraordinary nature and are therefore not included in the annual revenue projections, such as aid funds, which are listed for reference in the Finance Act.
Sarah Al-Ramshi
