In Morocco, civil society is criticizing the granting of the departure allowance and the retirement pension that Saâdeddine El Othmani , the outgoing head of government, ministers and state secretaries will receive. It calls for their outright abolition.
In a framing note, Prime Minister Saâd Dine El Othmani has set a growth rate target of 3.2% for 2022. The unveiled PLF will be based on the assumption of an average butane gas price of $450/tonne and an average cereal harvest of 70 million quintals.
The upturn continues for the Moroccan economy. Presenting the general framework for the preparation of the 2022 Finance Act, the Minister of Economy, Finance and Administration Reform, Mohamed Benchaâboun, stated that the [growth rate] should be around 3.2% next year.
In line with the expected rebound in economic growth in 2021 and 2022, remittances from Moroccans living abroad (MRE) to Morocco are expected to increase by 7.6%, reaching 73 billion dirhams in 2021 and an increase of 2.8% to reach 75.4 billion in 2022.
Bank Al Maghrib (BAM) is forecasting economic growth of 5.3%. However, this forecast is surrounded by a high level of uncertainty due to the new variant of the virus and disparities on the epidemiological map worldwide.
The implementation of the ambitious plan to revive the national economy continues with strong decisions to support vulnerable companies. In order to overcome the negative effects of Covid on the Moroccan economy and public finances, the government has guaranteed an amount of 67 MMDH for 96,000 loans for the benefit of companies.
Oxfam Morocco is preparing to launch an analytical study on the relevance and incentive value of tax expenditures that benefit three key sectors of the Moroccan economy annually: real estate, agriculture and private education.
On February 22, the European Union removed Morocco from the gray list of tax havens. This decision opens a new era for the relations between Moroccan and European economic operators, both in the public and private sectors.
The new law on local taxation has been in force in the kingdom since January 1, 2021. It contains many modifications, beneficial to taxpayers.
Between 2011 and 2021, public investment increased by 37%, from 167.3 billion to 230 billion dirhams planned for 2021. This is indicated by the sixth version of the note on the regional distribution of investment accompanying the Draft Finance Law (PLF) 2021 of Morocco.
The measures provided for in the 2021 Finance Act (LF) for the benefit of the real estate sector were published on Monday. In total, five key points, announced the Moroccan Ministry of National Land Use Planning, Urban Planning, Housing and City Policy.
Home buyers in Morocco will continue to benefit from tax relief for six more months. The registration on the purchase of apartments under 250,000 dirhams and the 50% reduction on properties over 4 million dirhams are affected by these new tax exemptions.