Rabat - Morocco’s public debt reaches up to 64 percent of the country’s Gross Domestic Product (GDP).
Rabat – Morocco’s public debt reaches up to 64 percent of the country’s Gross Domestic Product (GDP).
According to the Moroccan Minister of Economy and Finance, Mohammed Boussaid, this debt is “below the red line set by the International Monetary Fund (IMF), a debt ratio of 70 percent of GDP for emerging countries.”
“To continue the downward trend of debt, the government has introduced new provisions in the new organic law, providing for a more rigorous legal framework of debt, through the introduction of the golden rule, which provides for limiting debt to finance capital expenditures and the settlement of the debt principal,” Boussaid said at the question time of the House of Representatives on Tuesday.
The Moroccan official underlined that the government aims to pursue structural reforms to improve the business climate, support production sectors, diversify the national economy, invest in human resources and promote balance between domestic and external resources, taking into account national and international contexts.
“This policy will reduce the public debt as of 2017 to reach 60 pc of GDP by 2020,” he said.