Moroccos House of Representatives Adopts 2015 Draft Budget Bill

Rabat  – The House of Representatives (lower house) adopted Sunday during a plenary session the 2015 draft budget bill by majority votes of its members.174 member of the lower house voted for the draft bill while 59 voted against it.The 2015 appropriation draft bill banks on a 4.4 % growth rate and seeks to bring budget deficit to 4.3 % of GDP. These objectives are set on a forecast average exchange rate of 8.6 MAD/dollar and an average oil price of 103 dollars a barrel.The Government said the draft bill seeks to preserve macro-economic balances, create conditions favorable for economic takeoff by setting a balance between investment and growth, and meeting the requirements of employment, social inclusion and reduction of inequalities.The budget draft bill, which provides for the creation of 22,510 budget items, comes at an unstable global juncture mainly in the Euro zone, Morocco’s major economic partner. read more