Finance bill submitted to second legislative house

The Moroccan government presented Monday at the chamber of advisors, Morocco's second legislative body, the 1998-1999 finance bill after it was adopted by the House of Representatives following amendments.

Economy and Finance Minister Fathallah Oualalou told the chamber that the government is endeavoring to preserve the budget balance in order to fight poverty and illiteracy and promote the economic development of the rural world and the northern regions.

He added that the government's top concerns are to end "the economy of loans," "reduce the intervention of international finance institutions," rationalize public spending and attract foreign investments.

Under article 255 of its internal law, the chamber of advisors' commissions will discuss the finance bill before a plenary session adopts it by vote.

Last Wednesday, the House of Representatives adopted by majority the finance bill presented by the socialist-led coalition government appointed last March.