Morocco aims to reduce its budget deficit below 67% by 2027, as stated by Minister Nadia Fettah. The strategy includes fiscal discipline, controlling public spending, and boosting revenues while maintaining social protection investments. Significant progress in social security coverage and financial efficiency has been reported, further supporting these goals.
Morocco’s Minister of Economy and Finance, Nadia Fettah, announced a focused strategy aimed at reducing the national budget deficit and ensuring long-term debt sustainability from 2025 to 2027. The government seeks to lower the Treasury’s debt ratio to below 67% by 2027 by reinforcing fiscal discipline while maintaining investments in social protection programs.
Fettah highlighted the objectives to control public spending, set medium-term debt targets, and enhance revenue collection efforts. For 2024, she reported a budget deficit reduction of 0.5% of GDP compared to the previous year. The government’s financial strategy has successfully created fiscal space to finance social programs, generating MAD 15 billion through reforms in over 100 initiatives and MAD 11 billion mobilized from tax revenues.
Significantly, over MAD 71 billion from the public budget for 2023-2025 has been allocated to expand social security and provide direct financial support programs. Furthermore, reforms in subsidies have contributed to strengthening the Social Protection and Social Cohesion Fund, which is crucial for financing key social initiatives.
Director General of the National Social Security Fund (CNSS), Hassan Boubrik, reported substantial growth in social security coverage, with approximately 24.7 million Moroccans covered by the end of 2024. The CNSS has implemented measures to enhance service efficiency and digitization, with average claims processing times now reduced to nine days, and plans for an electronic medical card system to improve healthcare access efficiently.
Morocco’s comprehensive strategy aims to achieve a sustainable budgetary framework by lowering its debt ratio to below 67% by 2027. This will be accomplished through stringent fiscal discipline, effective public spending control, and robust revenue collection, whilst ensuring ongoing investments in vital social protection programs. The reported advances in social security coverage and operational efficiency reflect the government’s commitment to enhancing public welfare.
Original Source: www.moroccoworldnews.com
