Casablanca – HM King Mohammed VI, accompanied by Prince Moulay Rachid, chaired, on Monday, a Council of Ministers in the Royal Palace of Casablanca.
The council examined and adopted the 2010 Finance Bill and the organic law on the Economic and Social Council, a Royal Cabinet statement said.
Finance Minister, Salaheddine Mezouar, presented the broad lines of the Finance Bill, which aims at consolidating the structural reforms of the Kingdom despite the international economic situation.
The project is also meant to promote growth by boosting public investments and domestic demand, supporting promising sectors, improving governance and preserving the environment.
Given the crucial role played by the Hassan II Fund for Economic and Social Development, the Finance Bill includes provisions aimed at guaranteeing the sustainability of its resources, providing a clear vision to its actions, and reinforcing its capacity to accompany the national efforts in the field of investment.
The project aims also to promote social cohesion through a better sharing of the benefits of growth and the improvement of human development indicators.
The Council adopted a bill on cutting import taxes on certain products used in the field of agriculture, as well as reducing the purchase cost of some medicines and children’s food products.
Other bills concerned export free zones, real estate loans, hotel industry loans, as well as government accounting and budget of local collectivities.
Upon the implementations of the Royal instructions regarding the setting up of the Economic and Social Council, the Council of Ministers adopted an organic law determining the prerogatives, the composition and the regulations of its organization and functioning, giving it a rational and pluralist composition with experts and professional represented to enable this institution to fulfill its mission in reinforcing good governance in the field of sustainable economic and social development.