The US State Department’s annual Fiscal Transparency Report has acknowledged Morocco’s commitment to fiscal transparency, highlighting its adherence to the requirements outlined in the report. Among the 141 countries assessed, the governments of 72 nations, including Morocco, met the minimum standards of fiscal transparency in 2022, according to the report released on Tuesday.
The document further emphasizes that 69 countries fell short of the minimum requirements of fiscal transparency. The Department of State evaluated various factors in its report, including the availability, completeness, and reliability of budget documents, as well as the transparency of government contract and license allocation processes.
Fiscal transparency plays a crucial role in effective public financial management, promoting market confidence and supporting long-term economic sustainability. It also enhances government accountability by offering insight into budgetary spending, empowering citizens to hold elected leaders and public officials accountable. Moreover, it facilitates informed public discourse, fostering a more engaged and informed society.