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Saturday, December 10, 2022

Morocco among Countries Meeting Requirements of Fiscal Transparency (US Department of State)

Morocco is among the countries that meet requirements of fiscal transparency, the US Department of State pointed out in a report released on Friday.

The Department concluded that, of the 141 countries (and the Palestinian Authority) evaluated, the governments of 72 countries met minimum requirements of fiscal transparency in 2021, including Morocco.

Fiscal transparency informs citizens how government and tax revenues are spent and is a critical element of effective public financial management.

“Transparency provides citizens a window into government budgets and those citizens, in turn, hold governments accountable,” the US Department of State underlined.

For this report, the minimum requirements of fiscal transparency include having key budget documents that are publicly available, substantially complete, and generally reliable.

The review includes an assessment of the transparency of processes for awarding government contracts and licenses for natural resource extraction.

Fiscal transparency is a critical element of effective public financial management, helps build market confidence, and underpins economic sustainability.

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