This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press – Economy
In a worrying economic context, Morocco’s external debt has recorded an unprecedented increase of 153% over the last 13 years, reaching $69.2 billion, the equivalent of half of the Kingdom’s gross domestic product.
According to World Bank data, external debt recorded an annual increase of 6.6% last year, reflecting growing financial pressures on the Moroccan economy.
In its latest report, the World Bank indicated that developing countries, including Morocco, have spent a whopping $1.4 trillion to repay their external debt. This comes at a sensitive time when the world is witnessing a sharp rise in interest rates, which have reached their highest levels in 20 years, which has exacerbated the pressure on public budgets.
This sharp increase in interest payments has become a heavy burden on the governments of countries, including Morocco, as they face difficulties financing basic sectors such as health and education, threatening stability vital services on which citizens depend.
