Moroccan official: State debt doubled and poverty is greater than investment

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The President of the Moroccan Supreme Council of Accounts, Idriss Jettou, announced today, Thursday, that the country’s public finances are threatened by a set of risks.

Idris Jettou addressed a warning to the government about the high level of state debt to record levels in recent years, and the lack of control over the level of the treasury deficit, According to a newspaper “Hespress”.
Jettou pointed out, “The public debt continues to rise and its upward pace as a result of the exacerbation of the treasury deficit, in addition to the increase in the size of the treasury debt more than twice since 2009, moving from 345.20 billion dirhams to reach 750.12 billion dirhams at the end of 2019; which represents 65.3 percent of the output The internal raw, with an increase of nearly 27.4 billion dirhams, compared to the year 2018. ”

The Moroccan official, during a presentation before the two houses of parliament on the work of the Supreme Council of Accounts for the year 2018, last Tuesday evening, said, “The analysis of the country’s financial data indicates that the goal for achieving a level of debt amounting to 20 percent of the gross domestic product in the horizon of 2021 has become Hard to reach. ”

He explained that the debt of the treasury, in addition to the debts of public institutions and enterprises guaranteed by the state without calculating the debts of earthen groups and unsecured debts, amounted to 901.1 billion dirhams, which represents 81.4 percent of the gross domestic product.

He added that “the increase in foreign investments, which reached 47.4 billion dirhams, supplies the same source, as well as through the stability of tourism receipts and remittances from Moroccans around the world, and taking into account the noticeable decline in Gulf grants, the current account deficit of the balance of payments has worsened, moving from 3.5 percent to 5.5 Percent of GDP. “

Jettou pointed out that “the investments made by the state in various fields did not reduce the manifestations of poverty in the country, and the public investments that allowed Morocco to provide basic infrastructure and equipment at the required level, however they were not able to reduce social differences and spatial disparities and improve development indicators. Humanity”.



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