The US State Department's annual report on fiscal transparency was recently published. In it, Morocco was declared to be among the countries that meet the necessary criteria.

The document, published in Washington, indicates that 72 countries out of 141 met these minimum standards during the year 2022, which is the period covered by the report.

According to the US State Department, 69 countries did not meet the minimum criteria.

The report is based on an assessment of two different aspects: on the one hand, the extent to which the procedures for concluding public agreements and granting licenses for the exploitation of natural resources are transparent, and on the other hand, the extent to which financial documents are considered comprehensive and reliable.

As mentioned by Rue20, financial transparency is an essential element for the effective management of public finances and contributes to increasing confidence in the market and supporting economic sustainability.

The document also defined fiscal transparency as a "critical element of effective public financial management", explaining that it "informs citizens about how government and tax revenues are spent", thus enabling civilians to hold governments accountable.

In doing so, the US government aims to identify shortcomings and encourage necessary changes in countries' fiscal practices. It also offers recommendations for short- and long-term measures that governments can take to further improve their transparency.

The report notes that the assessment does not specifically address corruption, explaining that compliance with minimum fiscal transparency requirements does not necessarily mean the absence of corruption in that country.

Morocco's inclusion among the countries that meet the minimum requirements reflects its continued efforts to promote transparency in its fiscal practices; it has demonstrated its commitment to make public key budget documents within a reasonable timeframe. 

These documents provide detailed information on expenditures, revenues and budget allocations to the various ministries.

In addition, as Morocco World News reports, Morocco has followed a transparent process for the award of public contracts related to the extraction of natural resources, including in the energy and mining sectors. 

By ensuring that the criteria and procedures for these contracts are publicly available and codified in law, Morocco has strengthened its accountability and promoted fairness in the allocation of resources.

This reflects the Moroccan government's commitment to good governance and responsible financial management and provides assurances to citizens, investors and international partners, reinforcing the country's credibility as a reliable and accountable nation.