Fouzi Lekjaa Presents Key Details on Morocco’s 2024 Finance Bill and Economic Reforms

In his intervention during the public session of the House of Representatives, Fouzi Lekjaa, the Minister Delegate for Budget, provided important details regarding the figures of the 2024 Finance Law and the measures taken to improve the financial situation and enhance the sustainability of the national economy. The minister revealed that tax declaration revenues for this year exceeded 127 billion dirhams, with 77 billion dirhams collected through electronic declarations, 48 billion dirhams collected through direct submissions to the General Directorate of Taxes, and an additional 2 billion dirhams from assets and funds declared abroad.

He also highlighted an amendment to the Finance Law, which introduced an additional 5% tax rate on certain incomes, expected to raise approximately 6 billion dirhams in additional state revenue. This measure contributes to enhancing financial sustainability and expanding the revenue base without significantly impacting individuals or companies. Lekjaa emphasized that these actions align with the government’s goal of fostering trust between taxpayers and the tax administration, stressing the government’s commitment to safeguarding the confidentiality of citizens’ and businesses’ tax data.

Additionally, the minister confirmed that the government is working diligently to reduce the country’s budget deficit, which is projected to reach 4% in the 2024 Finance Law, with plans to gradually decrease it to 3% by 2026. This step is part of a broader strategy to reduce public debt, with the debt-to-GDP ratio expected to remain stable at 69.5%, the same level achieved in 2023.

In conclusion, Minister Lekjaa expressed his gratitude to the members of parliament for their understanding and positive engagement with the economic measures aimed at achieving fiscal balance and strengthening trust between citizens and the government. He emphasized that these measures represent a crucial step toward building an economy capable of adapting to global challenges while ensuring the sustainability of financial resources and stimulating both domestic and international investments.

source : fesnews media

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