The House of Representatives Committee on Finance and Economic Development recently met with Fawzi Lakja, the Minister in charge of the budget. The purpose of the meeting was to inform the committee that the government intends to allocate an extra 10 billion dirhams for the general budget.
This decision comes at a time when the country is facing challenging economic circumstances, including drought, rampant inflation, among others.
Similar actions were taken in 2022, when the government allocated additional funds to manage gas, wheat, and sugar prices.
This decision is authorized by the Constitution and the Organic Law on Finance, granting the government the power to address urgent national challenges by providing additional funds. However, it is important to note that the government must inform the finance committees in advance whenever it plans to open additional credits.
Additionally, the government is expected to request an additional 10 billion dirhams in financial credits. This follows previous instances where 12 billion dirhams were allocated in October 2022 and 16 billion dirhams in June 2022.
