World Bank: Morocco's financial sovereignty seriously threatened
Lemag.ma: At a conference organized by the party, the Popular Movement ', the Maghreb Director at the World Bank gave his analysis of the economic situation in Morocco.
Source : https://www.marocafrik.com/english/World-Bank-Moro...
Simon Gray is the Director of Operations of the World Bank for the Maghreb, resident in Morocco, he was invited to deliver an analysis of the current economic situation in the kingdom.
Gray gave a direct and clear speech to his audience, evoking the worrying fragility of the macroeconomic balance of the country.
"The delay in the start of the structural reforms that are needed puts the fiscal sovereignty of the Kingdom under serious threat," warned Simon Gray, justifying his alarmed tone by the fact that the figures exceeded all red lines, referring among others, the galloping rate of the budget deficit.
Moreover, the decision to cut 15 billion dirhams, taken by the head of government, Abdelilah Benkirane continues to raise concerns within the business community, fearing a slowdown in growth and market activities, that are generated by such a cancellation.
In this regard, the CGEM called , the Minister of Economy and Finance Nizar Baraka for explanations to his assertions.
local media sources indicated that the members of the Board of Directors of the CGEM, require the Minister from the Istiqlal party to allow accompanying measures from the government to permit companies to emerge from the current period with the least possible damage.
For his part Abdelilah Benkirane has been able to flatten the dissonnces his decision over the budget cuts within his coalition government, a government statement said that all ministers without exception, gave verbatim, support and solidarity with the Head of Government for his decision.
This tightening of ranks has led Abdelilah Benkirane to rhapsodise last Saturday, expressing his joy, saying in a tone of defiance that there is perfect cohesion between the components of government, except for disturbances and obstacles include in his actions.
Gray gave a direct and clear speech to his audience, evoking the worrying fragility of the macroeconomic balance of the country.
"The delay in the start of the structural reforms that are needed puts the fiscal sovereignty of the Kingdom under serious threat," warned Simon Gray, justifying his alarmed tone by the fact that the figures exceeded all red lines, referring among others, the galloping rate of the budget deficit.
Moreover, the decision to cut 15 billion dirhams, taken by the head of government, Abdelilah Benkirane continues to raise concerns within the business community, fearing a slowdown in growth and market activities, that are generated by such a cancellation.
In this regard, the CGEM called , the Minister of Economy and Finance Nizar Baraka for explanations to his assertions.
local media sources indicated that the members of the Board of Directors of the CGEM, require the Minister from the Istiqlal party to allow accompanying measures from the government to permit companies to emerge from the current period with the least possible damage.
For his part Abdelilah Benkirane has been able to flatten the dissonnces his decision over the budget cuts within his coalition government, a government statement said that all ministers without exception, gave verbatim, support and solidarity with the Head of Government for his decision.
This tightening of ranks has led Abdelilah Benkirane to rhapsodise last Saturday, expressing his joy, saying in a tone of defiance that there is perfect cohesion between the components of government, except for disturbances and obstacles include in his actions.
Source : https://www.marocafrik.com/english/World-Bank-Moro...