Morocco to Trim Budget Despite Economic Challenges, Finance Minister Says

The national treasurer had come before the committee as part of the presentation, examination and vote on the draft decree-law relating to the exceeding of the ceiling of external financing. The project, after a long debate, was adopted by the deputies by a majority of votes and one against. Nevertheless, the parliamentarians raised the issue of the budget cuts initially planned in the same draft decree but withdrawn at the last minute.

The minister affirmed that "even if the projections show that the expenditure planned under the current finance law should barely suffice, the government did not intend to go back on its decision to review the expenditure," reports le360.

The Minister of Economy nevertheless reassured the people’s representatives that a legal debate is underway to find a solution to this problem. "The government intends to first find a broad consensus on the issue of budget cuts." But in the meantime, the government will be content with the decree on the exceeding of the ceiling of external financing which authorizes it to go beyond 3 billion dirhams of external financing.

The government justifies this decision by the exceptional health situation currently being experienced by the kingdom, as well as by the preventive measures taken by Morocco to deal with covid-19.