Morocco: Report on Observance of Standards and Codes: Fiscal Transparency Module

Volume/Issue: Volume 2005 Issue 298

Publication date: August 2005

ISBN: 9781451824759

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , ISCR , CR , central government , line item , budget law , annual budget , organic law , private sector , run government service , balance sheet , fiscal year , accounting system , internal audit , tax authorities , public expenditure , Fiscal law , Budget planning and preparation , Fiscal accounting and reporting , Maghreb

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Summary

This report evaluates Morocco’s fiscal transparency practices and assesses compliance with the IMF’s Code of Good Practices on Fiscal Transparency. Morocco’s fiscal management system, which remains highly centralized, is essentially reliable and supported by legal safeguards, and adequate for steering budget performance. The far-reaching amendment of the organic law governing budget laws carried out in November 1998, the legislative and regulatory provisions that accompanied it, and the recent reforms have led to significant progress with respect to the clarity of fiscal and accounting standards and access to financial information.