Regarding Morocco’s 2013 finance bill, Baraka indicated to Morocco government to first thoroughly consider the idea of applying a wealth tax, in order to ensure that the move would not merely lead to a flight of capital or serve to adversely affect investment.

Additionally, Baraka insisted that the government would have to make sure that the tax could be adapted to Moroccan society.

He added that the government must analyze data from other countries, given the potential effect of the levy on productive capital investment and emphasized on the fact that some countries have decided to abolish the tax.

Regarding the government’s draft budget for 2013, Baraka said that the bill introduces certain advantages that are aimed at facilitating access to housing for the country’s middle class, applicable to citizens whose net monthly income does not exceed US$1,735.

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