Half of the proceeds from the privatization program earmarked to reduce public debt -Maait

Half of the state’s privatization program proceeds to go into reducing public debt: The government will use 50% of the money generated through its privatization program as well as the country’s primary surplus to service and reduce outstanding debt in the upcoming fiscal year, according to Finance Minister Mohamed Maait.

ICYMI- The Finance Ministry will hold off on tapping foreign debt markets or issuing any international bonds before the end of the current fiscal year in June, Maait said during a presser earlier this week. The government is now also targeting a higher primary surplus of 3.5% for the next fiscal year.

Gov’t to hold off on tax hikes: There will be no tax increases for investors in the next fiscal year. Additionally, mandatory solidarity contributions to the universal health ins. system will be deducted from taxpayers’ tax base.