The increase in the Treasury debt which is expected to reach 76% of GDP in 2020 will not have “a great impact” on the sustainability of the debt, said on Friday minister of Economy, Finance and Administration Reform Mohamed Benchaâboun.
The minister, who was speaking following the speeches of the parliamentary groups and grouping in the house of advisors concerning the 2021 Appropriation Bill, stressed that the increase in the debt is an inevitable consequence of the unprecedented health and economic situation, like most countries around the world.
However, this increase will not have a big impact on the debt, given the available margins of maneuvers and the sound structure of the debt, he said, noting that the indicators of the cost and the associated risks remain at safe and controlled levels.
In addition, the government is determined to reduce the budget deficit in order to gradually bring the levels of the Treasury’s debt under control and preserve Morocco’s ability to bear the burden of its debt, he said.
The budget deficit should reach this year nearly 7.5% of GDP against 3.5% initially forecast, which will have repercussions on the needs of the Treasury which should increase compared to the forecasts of the 2020 appropriation bill, said Benchaâboun.
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