Morocco Aims to Reduce Budget Deficit Below 67% by 2027
Rabat – Morocco's Minister of Economy and Finance, Nadia Fettah, said today that the country's budgetary programming for 2025-2027 will focus on reducing the budget deficit and ensuring long-term debt sustainability while maintaining strong investments in social protection.
Speaking before the Finance and Economic Development Committee in Parliament, Fettah said the government is looking to lower the Treasury's debt ratio to below 67% by 2027.
To achieve this, Morocco will reinforce fiscal discipline, including setting a medium-term debt target and controlling public spending while boosting revenues, According to the minister.
She noted progress in revenue collection and deficit reduction in 2024, with the budget deficit shrinking by 0.5% of GDP compared to 2023. She also recalled the government's success in creating fiscal space to finance social protection programs.
The financial strategy has generated MAD 15 billion through reforms in over 100 social programs, alongside MAD 11 billion mobilized through tax revenues. In addition, more than MAD 71 billion from the public budget (2023-2025) have been allocated to expanding social security and direct financial support programs.
Savings from subsidy reform have also played a key role in strengthening the Social Protection and Social Cohesion Fund as it helped finance key social initiatives, Fettah added.
Hassan Boubrik, Director General of the National Social Security Fund (CNSS), reported significant growth in social security coverage. By the end of 2024, 24.7 million Moroccans were covered, with daily claims submissions reaching 110,719.
To accommodate the growing number of insured individuals, the CNSS has introduced measures to improve service efficiency and digitization. Processing times for claims now average nine days, and an electronic medical card system is set to be launched to enhance healthcare accessibility. Tags: Budget deficitbudget deficit in Morocco
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