Casablanca – Morocco’s Government Council approved three draft decrees on Thursday, granting the Minister of Economy, Finance and Public Performance authority over domestic borrowing, external financing and contracts related to public debt management.
The three texts concern draft decree No. 2.26.806, which delegates authority to the minister to contract domestic loans and use other financial instruments, and draft decree No. 2.26.807, which covers external financing.
The third text, draft decree No. 2.26.808, authorizes the minister to conclude borrowing contracts to repay costly external debt and agreements to hedge against fluctuations in interest rates and foreign exchange rates.
Government spokesperson Samir Belfkih explained the measures during a press briefing following Thursday’s council meeting in Rabat. He said the decrees draw on Articles 38, 39 and 40 of Finance Law No. 50.25 for the 2026 budget year.
The measures delegate powers from the Head of Government to the finance minister from the date of their publication in the Official Bulletin until December 31.
During this period, the government aims to mobilize the financial resources it needs to cover Treasury expenses and meet its financing requirements.
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The new authority will allow the minister to take the necessary steps to arrange domestic and external borrowing, use alternative financial instruments and conclude agreements linked to debt management. The government also seeks to secure better borrowing conditions, control debt-servicing costs and limit exposure to changes in interest rates and foreign exchange markets.
The decrees come as Morocco continues to rely on both domestic and international markets to meet its financing needs.
According to the Ministry of Economy, Finance and Public Performance’s latest Treasury report, Morocco’s financing requirement reached MAD 41.4 billion at the end of September 2026, down from MAD 71.7 billion during the same period last year.
The Treasury covered these requirements through domestic and external financing. Net domestic borrowing reached MAD 22.1 billion, following MAD 97.3 billion in subscriptions and MAD 75.2 billion in principal repayments.
Net external borrowing stood at MAD 25.2 billion. This included MAD 40.7 billion in drawdowns, of which MAD 23.7 billion came from international financial markets, against MAD 15.5 billion in principal repayments.
The figures reflect the Treasury’s continued use of different financing sources to cover public spending and debt obligations.
The Ministry’s latest announcements also show that the government continues to monitor domestic financing operations. The ministry published the results of a Treasury bond auction on Tuesday and announced updates on the listing of Treasury bonds on the electronic trading platform E-Bond on Wednesday.
