Davide Furceri, Division Chief in the Fiscal Affairs Department at the International Monetary Fund (IMF), praised Morocco’s fiscal consolidation efforts on Wednesday in Bangkok.
“Morocco continues to face fiscal challenges, particularly related to surging energy prices,” Furceri told MAP on the sidelines of the IMF and World Bank Annual Meetings, held in Bangkok, Thailand, from October 12 to 18.
In this regard, the IMF official highlighted Morocco’s fiscal consolidation efforts, stressing the importance of preserving social protection mechanisms for the most vulnerable populations.
“Controlling public expenditure involves, among other things, better prioritization of spending, a progressive phase-out of generalized subsidies, and the implementation of targeted direct social assistance,” explained Furceri.
These measures aim to reconcile public deficit reduction with the need to protect social groups most vulnerable to economic shocks, particularly those linked to fluctuations in international energy prices.
The IMF official also emphasized the importance of establishing medium-term expenditure frameworks to place deficit reduction on a sustainable trajectory and strengthen the predictability of public policies.
For Morocco, these guidelines highlight the challenge of balancing public finance sustainability with the preservation of social gains, in a climate marked by uncertainties in international energy markets.
He concluded that strengthening a credible medium-term fiscal framework serves as a vital lever for improving the allocation of public resources, consolidating debt sustainability, and preserving the fiscal space necessary to fund development priorities.
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