King Mohammed VI chaired, on Wednesday at the royal palace in Rabat, a Council of ministers, devoted to the presentation of the general orientations of the 2019 Finance Bill and the adoption of two draft laws as well as several international conventions, says a statement by the spokesman of the royal palace. At the beginning of the Council, the King questioned the minister of Economy and Finance on the measures under consideration so that certain public institutions and companies could honor their commitments and discharge their accumulated debts and arrears, particularly those in financial difficulties. In this regard, the minister of Economy and Finance proposed the adoption of an action plan for the restructuring of certain public institutions and companies, notably by reviewing the status of subsidiaries and assets that are not directly linked to the main activity of the said institutions and companies, as well as by rationalizing their expenditure within the framework of program-contracts with the State. On the other hand, the King requested clarification from the minister of Economy and Finance regarding the payment of arrears on value added tax refunds. The minister said that an operation to immediately settle these debts for the benefit of private and public sector companies has been launched, through a partnership with the banking sector, noting that the financial impact of this operation on the State budget will be spread over the next ten years. The King gave his guidelines to examine these proposals and measures, so as to enable the public sector to consolidate its investment capacities and play its strategic roles and contribute to the dynamics of the national economy.
