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Moody's Agency warned the Moroccan government of the difficulty of achieving the financial goals to reduce the volume of treasury debt to 60 percent of GDP by 2020, in connection with the expectations of the budget of 2019 placed for discussion at the parliament, estimated at 443 billion dirhams ($48 billion).
According to the agency, the pace of addressing the fiscal deficit in macro-economic accounts seems slow over the next three years, given the modest growth and need for funding for social expenditures in future budgets. The Treasury debt rate is expected to rise to 67 percent instead of falling, as planned with the International Monetary Fund in its latest annual review.
Morocco's economy will face difficulties in the coming period due to lower external financial support, lower tax revenues for the treasury and weak corporate finance, the agency said.
"The budget deficit will be limited to 3.3 percent of GDP by the end of 2019, which is agreed upon with the international financial institutions, including the IMF, which Rabat has asked for a new precautionary line to confront the changes in international markets, especially oil prices and interest on loans.", Moroccan Finance and Economy Minister Mohamed Benchaaboun said.

Source (Al-Hayat newspaper, Edited)