Morocco’s Constitutional Court Approves Law to Increase Foreign Borrowing Limit

Law 26-20 on the exceeding of the ceiling of foreign borrowing, adopted last April, had raised several questions in the ranks of the parliamentary opposition, reports Les Inspirations Eco. At the time, the Constitutional Court had been seized to verify the validity of the new legislation. In handing down its verdict, after being seized by the Authenticity and Modernity Party, the Constitutional Court maintains that, in substance, the procedure adopted by the Executive to pass the new law was legally justified.

In its referral, the party accused the government of not respecting the provisions of Articles 10 and 60 of the Constitution and of ignoring the measures provided for in the internal regulations. For the Court, the minutes of the session of the vote on Law 26-20 and the accompanying documents examined do not provide any evidence of the alteration of the parliamentary rights of the opposition.

According to the same media, the green light from the Constitutional Court means the implementation of the measures provided for in the new legislation. While recalling the intervention of the National Treasurer before the members of the Commission, the same source specifies that the member of the government emphasized the importance of the new law in the battery of measures. It aims to preserve the national economy in the coming months from the shock threatening Morocco’s main economic partners.

As for the parliamentary majority, it is invited to resort to external financing in order not to exceed the red lines that have been drawn.