BY: Hana Saada
ALGIERS- Morocco’s debt has surpassed the $100 billion mark within a span of 12 months, reaching one trillion dirhams, as per the latest statistics released by the Ministry of Economy and Finance of the State of Morocco in April.
This year, Morocco’s treasury debt has exceeded 1,000 billion dirhams, a significant increase from last year’s 905.5 billion dirhams, representing a 10% rise in just 12 months.
In fact, the Moroccan economy has been quite perplexing in recent times. On the one hand, the country continues to grapple with high levels of debt, which have been a cause for concern both locally and internationally. On the other hand, it is quite remarkable that the companies linked to the Moroccan monarch, Mohammed VI, have recorded very high revenues during this period. This situation has led to a lot of debate among both local and international pundits, with various positions being taken on the matter.
One of the key concerns raised by many people is the source of the high revenues of the companies associated with the Moroccan monarch. Some people have argued that these companies have benefited greatly from the incumbent political system, which has been accused of being highly undemocratic. Critics have also maintained that the royals have been using their influence to secure business deals and large contracts without following due process.
Furthermore, there is a growing concern that the high revenues earned by these companies have not translated into any tangible benefits for the Moroccan people. Many argue that the ruling elite has largely focused on boosting their personal wealth without paying much attention to improving the lives of ordinary citizens. In this regard, some people have called for a more transparent and accountable political system that will ensure that the country’s resources are used for the greater good. It is apparent that the issue of high revenues for companies linked to the Moroccan monarch is a complex one that deserves careful study and analysis.