Boussaid Mohamed, the Moroccan Minister of Economy and Finance.
Rabat, Morocco(TMT)- The Moroccan Minister of Economy and Finance, Mohamed Boussaid said last Tuesday when answering a question in the House of representatives of the Moroccan parliament that Morocco’s public debt does not exceed 64% of the country’s gross domestic product (GDP).
Bouassaid also said that the aforementioned number is “under the red line set by the International Monetary Fund (IMF), that of 70% of a country’s GDP for emerging countries.”
“To keep in line with the ongoing decrease of public debt, the government has introduced new provisions in the new organic law, with a more rigorous legal framing of debt, through the introduction of a golden rule which stipulates the following: ‘limit the debt just to finance capital expenditures and pay back only the settlement of the principal amount’,”Boussaid stressed.
“This policy will reduce our public debt to reach 60% of the country’s GDP by 2020,” Boussaid noted.
The Moroccan Times.
