Friday, November 1, 2024 at 11:26 p.m.
Rabat – Strengthening the governance of public finances generates positive impacts on several levels, said Friday in Rabat, the president of the Economic, Social and Environmental Council (CESE), Ahmed Reda Chami.
These benefits concern in particular the increase in attractiveness for private investors, the improvement of the country’s image with international donors as well as the effectiveness and efficiency of public spending, indicated Mr. Chami during of the sixteenth edition of the International Conference on Public Finance, organized by the Ministry of Economy and Finance, in partnership with the Association for the International Foundation of Public Finance (FONDAFIP).
“Healthy and sustainable public finances reflect a stable macroeconomic framework, strengthen the contribution of budgetary policy to the economic and social development of the country and therefore contribute to preserving social cohesion,” he said.
Mr. Chami called, in this sense, to optimize the allocation of resources towards priority investments, to guarantee “effective, transparent and responsible use of public costs”, to accurately forecast the necessary budgetary resources and to take advantage of the public-private partnerships.
In addition, he stressed the importance of ensuring the coherence and visibility of strategies and public policies involving several ministries to have better convergence of their interventions at different levels, pleading in favor of an institutionalization of prevention and management public financial risks.
He also noted that artificial intelligence is essential for transforming public finances, particularly at the territorial level.
And to note that international cooperation plays a fundamental role, in particular by facilitating the sharing of best practices and the adoption of integrated and coordinated approaches to meet the global challenges of financial governance.
This cooperation also helps improve transparency and accountability, and strengthen the capacity of institutions to manage public finances efficiently and equitably, he continued.
Placed under the theme “Towards a better restructuring of the public financial governance model in Morocco and France”, this edition, which is being held until November 2, is structured around two panels, namely “A model of governance weakened public financial governance” and “Paths for restructuring the public financial governance model”.
