Morocco is watching for the right moment for an international exit from the Treasury, which remains a possible option at any time, said the Minister of Economy and Finance, Nadia Fettah.
“It shouldn’t be too long.” We are closely monitoring the markets to see what is the right time for Morocco to seize the opportunity to raise funds internationally,” said Ms. Fettah in an interview with MAP.
She insisted on the need to listen to international markets, given the international calendar between the outflows of the American Federal Reserve (Fed) and the electoral calendars. “This situation does not provide the necessary visibility to international investors who may be more or less cautious or conservative,” explained Ms. Fettah, judging that international exit is a permanent but not pressing subject.
And to maintain: “It is our duty not to be under pressure. We take out debt on the domestic market as a priority and internationally, we have the choice of time, currency and issuer or investor.”
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Furthermore, the minister noted that the government continues to monitor the trajectory set out for the sustainability of public finances. “Proof of this is: the gradual decline from year to year in the budget deficit and overall debt, which remains at controllable levels to finance growth.”
This situation is the result of the control and improvement of revenue, as well as the broadening of the tax base, noted Ms. Fettah. “From year to year, we have much better revenues, whether in terms of corporate tax, income tax and VAT, and this without ever increasing the rates,” he said. she said, believing that it is a balance that is not easy and a colossal effort in terms of improving communication with citizens, using digital technology and the fight against fraud.
“We have maintained our ratings and even turned positive for some, hoping to continue on this trajectory and improve Morocco’s ratings to be able to finance better and cheaper,” concluded the minister.
IDM with MAP
