Morocco: House of Representatives adopts appropriation draft bill

The house of representatives (lower house) adopted, on Wednesday in a plenary session, the second reading of the 2014 appropriation draft bill. The draft bill was adopted by a majority of 186 votes, versus 59 votes against it. The House of Advisors rejected, last Thursday in plenary session, the draft bill by a majority vote (87 votes for, 33 against), which required to submit it to the House of Representatives for a second reading. The Minister of Economy and Finance Mohamed Boussaid, said in a statement to MAP, at the end of the vote, that it was necessary to take into account the particular political, economic and financial juncture during which the bill was elaborated, adding that new and important amendments were introduced during the debates in both Houses of Parliament, which will likely contribute to preserving financial stability, promoting the opening of new horizons for the national economy and strengthening institutions. These amendments, which he described as “very important”, tend to strengthen enterprises and increase the resources of the Social Cohesion Fund. The main amendment that sparked heated debates concerns amnesty on assets and property held illegally abroad, the minister said. The opposition groups deemed that the 2014 appropriation draft bill does not respond, despite the amendments, to the social and economic demands dictated by the current juncture.