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Public finance : For Boussaid 2018 will be the best year for debt reduction

Mohamed Boussaid, the Minister of Finance and Economy./Ph. DR
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The government program, which sets the general framework for debt reduction by 2021, makes 2018 a «step-up» towards this alleviation, said the Minister of Economy and Finance, Mohamed Boussaid.

«All efforts to restore finances are being consolidated and deficit targets will be met,» Boussaid said in an interview published Monday be L'Economiste, saying that the next budget should give priority to social sectors.

«The context is more favorable than last year in terms of growth since we have revised the growth rate to 4.8%,» explained the Minister.

For him, «all the exporting sectors have done very well in the first 6 months of this year, with an export increase of 6.2% and imports of around 7%. Mohamed Boussaid adds that this situation still generates a trade deficit, but the export sectors continue performing, while the indices of the other sectors are green.

The Minister of Economy and Finance also mentioned a possible recourse to the international financial market. «We are looking for the right moment to do so, the decision is not yet made to go to the international financial market ... We are always looking at this eventuality».

He also stressed the need to remember that «the Treasury continues to finance itself properly without any problems», despite the delays due to the approval of the budget bill.

In addition, Boussaid pointed out that five offices account for more than 80% of external debt, noting that this debt is the result of a voluntary investment policy that has enabled our country to equip itself. «OCP, ONCF, ADM, MASEN and ONEE have invested heavily. This has allowed Morocco to boast of having quality infrastructures, an element of attractiveness,» he went on, noting that foreign investment has increased by 20% since the beginning of this year.

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