Foreign debt meant to finance development projects, not cover consumer spending, El Azami

Rabat - The government resorted to external debt to finance development projects and not to cover consumer spending, said Monday in Rabat, minister-delegate for the budget, Driss El Azami El Idrissi.

External debt is regulated by the legislative body, noted El Azami, who answered the MPs questions during a plenary session dedicated to discussing the presentation, recently presented to Parliament by the first president of the Court of Accounts, Driss Jettou, on the actions of financial courts. The minister said the finance bill, which is approved by parliament, sets a ceiling for external financing. Several parliamentary groups had criticized the government's policy on the use of foreign debt, considering that the approach reflects the inability of the executive branch to find an efficient solution to the problem of budget deficit.