Morocco to Slash Budget and Lift Borrowing Limits Amid Coronavirus Crisis

The government council intends to adopt a draft decree-law, with two main objectives, reports Aujourd’hui le Maroc. The first objective is focused on the suspension of expenditure commitments opened at the level of the general state budget, that of Public Establishments and Enterprises (EEPs) and the Treasury Special Accounts (CST). The second objective concerns the removal of the ceiling on the amounts of external borrowing that were set at 31 billion dirhams as part of the 2020 Finance Act.

In other words, it is for the government to suspend all spending commitments except for civil servant salaries, health and security-related expenses and expenses related to the management of the pandemic.

This measure is in line with the management of the effects of the coronavirus pandemic and its consequences on the health, economic and financial levels.