Tuesday , June 6 2023

Moody's changes Morocco's rating: from right to regular …


Moody's Morocco's rating up to right ...
Moody's Morocco's rating up to right …

Moody's agency revised the country's rating from a positive rating after warning the Kingdom's financial skip. Following the Ba1 initial rating, the rating agency demonstrates a significant weakening of the strong and institutional and governmental effect as it has been slower than anticipating the fiscal consolidation rate in Morocco and exposed to macroeconomic risks in Morocco. . As a result, the lower the expected budgetary margin limits the government's ability to absorb internal or external shocks, the agency reports. According to him, the budget execution data for 2018 will bring the deficit of 3.8% of GDP to 3%, which is due to lower tax revenues and slower subsidies from countries. the Gulf Cooperation Council (GCC) in the 2019 budget expects the government to expect a fiscal deficit of 3.7% (excluding revenues from privatization) and slower than expected fiscal consolidation. The agency was forced to lower the Moroccan rating from positive to stable. To restore this trend, Moody's calls on the government to take "urgent political" measures to reduce the country's budget deficit. If so, Moody warns: "Further deterioration in public finances may result in a rating drop".

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