The current government, headed by Aziz Akhannouch, still hopes to bring the size of the debt below the 70 percent threshold, although those interested in economic affairs have directed harsh criticism at it, saying that its measures do not go in the way of proper management of public finances.
In this regard, Fawzi Lakjaa, Minister Delegate in charge of the Budget, said in a session held in the House of Representatives, that the government is betting on reducing the level of debt to levels that ensure proper management of public finances, while contributing to increasing the growth of the national economy.
Lakjaa stressed that the government places the issue of preserving Morocco’s financial sovereignty at the core of its priorities, and that distinguished relations with international financial institutions will contribute to achieving this goal.
The Minister Delegate in charge of the budget added that to bring the debt below the 70 percent threshold, the deficit must be controlled, and this is what the government aims to do.
The same speaker highlighted that the volume of debt during this year reached 70.9 percent, after reaching 71.6 in 2021.
For his part, Najib Aksabi, an economic expert, said recently, during a symposium organized by the Democratic Left Federal Party, that public finances in Morocco are in great trouble.
Aksabi added that the real deficit amounts to 187 billion dirhams, which means 14 percent of the gross domestic product, which is covered by debt.
The economic expert highlighted that the government is resorting to the easy solution, which is debt, recording that the annual deficit in foreign trade amounted to 312 billion dirhams, according to recent statistics.