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Rabat – The US State Department has recognized Morocco’s commitment to fiscal transparency, featuring the country in the list of countries adhering to its minimum requirements.
The State Department published on Tuesday its 2023 Fiscal Transparency Report, evaluating the performance of a total of 140 countries. Among the nations evaluated, Morocco was one of the 72 nations that successfully met the standards of fiscal transparency.
The report defined fiscal transparency as a “critical element of effective public financial management,” explaining that it “informs citizens how government and tax revenues are spent.”
In addition, it allows citizens to hold governments accountable, as well as helps enhance market confidence and economic sustainability, added the report.
Morocco’s inclusion among the countries meeting the minimum requirements reflects its ongoing efforts to promote transparency in its fiscal practices.
The North African country has demonstrated a commitment to making key budget documents publicly available within a reasonable timeframe.
These documents provide comprehensive details on expenditures, revenues, and budget allocations across various ministries.
In addition, Morocco has followed a transparent process for awarding government contracts related to natural resource extraction, including those in the energy and mining sectors.
By ensuring the criteria and procedures for these contracts are publicly available and codified in law, Morocco has strengthened its accountability and promoted fairness in resource allocation.
The recognition of Morocco’s fiscal transparency reflects the government’s commitment to good governance and responsible financial management.
It provides assurance to citizens, investors, and international partners, enhancing the country’s credibility as a reliable and accountable nation.
The Fiscal Transparency Report aims to identify deficiencies and encourage necessary changes in countries’ fiscal practices. It also offers recommendations for both short-term and long-term steps that governments can take to further improve their transparency.
The report noted that the assessment does not specifically address corruption, explaining that meeting the minimum requirements for fiscal transparency does not necessarily mean a lack of corruption in said country.
The US State Department assessed fiscal transparency of governments during the review period of January 1, 2022 to December 31, 2022.
